Trusts can be set up either using a Will as a mechanism to deal with a person’s estate after death or can be set up to operate during a creator’s lifetime. A Trust can be a tax efficient method of passing on assets. It can also protect assets from various risks.
There are several different types of Trusts available which can be used for different purposes, such as:-
- To provide for children while they are under age
- To provide for people who are incapacitated
- To transfer wealth in a tax efficient way
- To provide an income for a person while preserving the capital to pass to another person at a later date.
If you would like more information or advice, please contact us.