Trusts

A trust is a vehicle used in financial planning whereby the legal and equitable title of property is transferred to named Trustees. The person setting up the Trust is called the Settlor or Grantor. The Trust is created in the form of a legal document called a Deed of Trust or Trust Deed.
The Trustees are required to hold the property in accordance with the obligations imposed by the trust deed thereby, legally moving assets outside of your estate.
This can be an extremely effective tool to ensure that benefits are paid in a timely manner, by avoiding probate, and can be used to mitigate Inheritance tax (IHT) for certain individuals.

Issues of IHT and Estate Planning are no longer just concerns for the extremely wealthy. Many people now need to think seriously about the implications of IHT when making their will. The good news is that it is possible to reduce and plan for the IHT your estate may need to pay.
Trusts can be an effective way of reducing your taxable estate to ensure your future generations benefit from your wealth.