Trusts

What is a trust?

A trust enables people to place assets under the control of others.

They have full responsibility to manage those assets for the benefit of whoever is chosen, according to a set of instructions. This enables:

  • Future ownership and use to be controlled
    • By specifying that property and other assets must be kept within the family and/or only used in particular ways. Assets may be given to charitable organisations for stipulated uses.
    • Through directing how an asset including cash, shares, a house or a family business is used even after it has been sold.
  • Tax to be saved
    • Trusts are treated separately for tax purposes and are assessed independently for inheritance tax, capital gains tax and income tax.
  • Capital to be protected
    • Avoiding the loss of assets if a beneficiary has family or financial problems.
    • Helping a disabled beneficiary look after property or assets.
    • Providing guidance to a young or vulnerable beneficiary in looking after their inheritance.

What shall I do next?

For advice of setting up a trust please get in touch with our expert wealth protection team at [email protected].

related news

Grant applications can be as simple as A-B-C with Boyes Turner’s new probate service 

The Wealth Protection team have recently added extra value to their client-experience with the introduction of Grant-only fixed-fee service, applicable for estates exempt from inheritance tax. 

read more


Coronavirus (COVID-19) Message for our clients

As the coronavirus continues to create significant challenges for families and businesses, we want to reassure our clients of the steps that Boyes Turner have taken in order to continue to provide a high level of client service.

read more


What does the future hold for Inheritance Tax? 

No tax is popular; however, public opposition to Inheritance Tax (IHT) is particularly widespread despite the fact that only a minority of estates have to pay it. In fact, IHT accounts for less than 1% of UK taxes while affecting less than 5% of estates. 

read more



more news

award winning law firm

Boyes Turner are proud to have received the following awards and recognition.

awards
failed