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Trusts
What could setting up a tax-efficient Trust Fund mean for you and your family?
In the simplest of terms, setting up a Trust is the perfect way to protect your assets and maximise the benefits you wish to pass on to others such as your children or grandchildren. The main advantage of Trusts is that they can be set up in such a way as to qualify for a range of tax exemptions … and that’s where it starts to get complicated.
Expert advice is therefore essential, especially as there are so many different types of Trusts for different purposes. Pagan Osborne’s specialist Trust advisors in Edinburgh and Fife can guide you through the process of setting up a Trust and help you make the most suitable choice for what you want achieve.
For example, your main priority might be to minimise your exposure to Inheritance Tax by moving up to £325,000 of personal assets (£650,000 per couple) into a Trust so they cannot be counted as part of your estate, provided you survive for seven years.
Alternatively, you might wish to use a Trust as a tax efficient way to pay for school fees or lock money away for future generations to give them the best possible start in adult life. You can even transfer property into a Trust to keep it in the family and prevent it being used to fund future Care Home fees.
Thanks to their unique flexibility, there are any number of ways you can use Trusts to benefit you and your family – so why not find out more by talking to the experts you can trust at Pagan Osborne.
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