What is a Family Trust?
A trust involves giving assets, which can be money, stocks and shares, property etc. to Trustees who administer the assets in accordance with the terms of the Trust.
There is a common perception that Trusts are only for the wealthy, but with comparatively high house prices, many more families are being caught by Inheritance Tax, merely because of the value of the family home. With careful tax planning, such as arranging a pattern of lifetime gifts, or making a Will, the payment of taxes such as income tax, capital gains tax, and inheritance tax can be minimised or even avoided.