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Trusts & Tax Planning

Trusts

Trusts are often used to make provision for family members where it is not appropriate to give the money to them outright, often due to family circumstances.

A Trust is a binding obligation on an person upon the trustees to hold property (which could be money, investments, land or property) on behalf of beneficiaries.

For example:

  • if your children are too young
  • someone is irresponsible to handle a large sum of money
  • subsequent marriages and you wish to continue to provide for your spouse but ant to ensure that your assets ultimately pass to your children or other beneficiaries
  • If your beneficiary is in financial difficulty and likely to become bankrupt
  • If a beneficiary you wish to provide for has either a physical or mental disability
  • If you wish to make provision for someone to live in your home for as long as they need to but you want to ensure that your home ultimately passes to your children

There are many different types of trusts and it is important to recognise that different types of trust are subject to different tax regimes so it is imperative to consider what type of trust is the most appropriate for your personal circumstances.  At WLS we can help you do this.

If you require further information then please contact us and we are always happy to discuss matters further without any obligation.

Tax Planning

We all wish to ensure that our hard earned money passes to our loved ones upon our death.  We can help you plan, protect and preserve as much as you can of your estate in a legally compliant and practical way.

If you require further information then please contact us and we are always happy to discuss matters further without any obligation.

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The Old Bank
59 High Street
Polegate
East Sussex
BN26 6AH