Setting up a Trust provides a useful tool for tax planning purposes, since it can be a good way of making tax-efficient ‘vehicles’ to benefit you, your family and future generations. Our experienced trust solicitors can advise you on the necessary steps and benefits. Our trust solicitors understand that everyone’s circumstances are different and can advise you on how to setup a Trust and the type of Trust which is best suited to your needs.
Why set up a Trust?
Trusts can be established for a variety of reasons and can give you the benefit of a flexible structure for protecting your assets for future generations.
For example, you may wish to assist your children on the purchase of a property whilst protecting your contribution from an immature child, a fragile marriage or physical or mental deterioration of a family member. A trust allows you to achieve this.
Our expertise in tax and Trust matters enables us to calculate your potential liability for inheritance tax and capital gains tax and guide you through the complex UK tax legislation in order to minimise your liabilities and to maximise the reliefs available to you.
Using trusts for effective tax planning
Trusts can last for up to 125 years and it is important that you have access to advisers who can help with all the taxation issues connected with trusts, the needs of beneficiaries and, where appropriate, the need to alter the original trust structure.
We are able to provide you with ongoing advice on agricultural and business property relief to reduce the inheritance tax liability, as well as the use or impact of holdover relief, rollover relief and business asset disposal relief to reduce or postpone your capital gains tax liability.
Why choose Trethowans?
Our experience enables us to provide trustees and beneficiaries appropriate and tailored advice to meet their needs and circumstances on all aspects of trust law, including the interpretation of the trust documentation and past actions by trustees.
Working with you and your family our trust law solicitors will advise on:
- The creation of all forms of UK trusts and their use in tax planning and the devolution of family assets to the next generation
- Tax-efficient gifts to trusts
- Changing trustees
- Distribution of trust assets and the tax consequences of doing so
- Advising existing trustees on their powers and responsibilities; statutory and under the provisions of the trust deed
- Variation of existing trust arrangements
- Inheritance tax and capital gains tax issues affecting trusts
- Holdover relief, business asset disposal relief and rollover relief from Capital Gains Tax
- Agricultural property relief and business property relief from inheritance tax
To discuss your trust law requirements with one of our specialist trust solicitors, call us today on 0800 2800 421. We have offices in Bournemouth, Poole, Salisbury, Southampton and Winchester.