A trust is like a security box.
Inside you put your assets (money, property, pensions etc). The box is locked, and can only be opened if the rules you set are met. Your chosen group of people (the Trustees), then decide if your rules have been met, and the box can be opened.
But why would you want a box? There are three main reasons for creating a trust.
- enables you to determine how your assets are controlled after your death
- can be used in tax planning to reduce your potential tax liability
- can ensure that assets are made available to those who can not manage them themselves due to incapacity or age
To find out if you could benefit from creating a trust, contact us by calling 020 8952 0242 .