News in Review
Understanding trusts: a guide to the basics
With upcoming changes to pensions and inheritance tax (IHT) due to take effect from April 2027, you may be thinking more about how your wealth could be passed on to future generations. Have you considered using a trust?
Trusts can help you manage and pass on wealth to your loved ones in a controlled way. They can help protect family assets such as investments or property, provide support for loved ones, and potentially help to manage an inheritance tax liability. This short guide provides a high-level overview of how trusts work, the main types of trusts, and some of the key considerations to be aware of.
As trusts can be complex and aren’t suitable for everyone, it’s important to understand the potential benefits, risks and tax implications. If you’d like to find out more, or discuss whether a trust could be suitable for your circumstances, please get in touch. Tax rules can change and the impact of taxation, and any tax relief, depends on your personal circumstances and where you live.