Inheritance Tax Planning and Trusts

If you have built up wealth that you would like to protect in order to be able to pass it on to your family, then Inheritance tax planning is an essential tool that can help you to do this. Not only can you protect your money and your estate to ensure that you have something to leave to your loved ones when you are no longer around to help them, but it can also help you to avoid many of those unnecessary tax bills that can be a real burden to your family. This can make a real difference to their lasting financial future for many years to come, even into generations further down the line.

Plan early to reap the benefits

It is not only important to seek legal advice if you are looking at inheritance tax planning trusts but also to do it as soon as possible so that if the worst should happen your family are financially taken care of. Because any financial structures that you put in place can have lasting consequences and tax implications not only for you but also for your family it is important to find a company who are well versed in dealing with these kinds of arrangements. It is also important that you have regular reviews of any inheritance tax planning, together with trust and your wills, to allow for any changes in legislation.

Setting up a trust

When you are setting up your inheritance tax planning you may want to look at putting a trust within your arrangements. A trust is a legal arrangement where you can choose to give money, property of even investments to a third party, a trustee, so that they can look after them whilst you are still living on behalf of the beneficiary. For example, you could choose to put some of your savings to one side for your children or even your grandchildren, something that could help them out financially in the future. It is also possible to add a trust to your pension fund so that the benefits go to a designated beneficiary if you were to die before beginning to draw your pension.

Planning made easier with Ormerod Rutter

Trust fund estate planning is a relatively easy process that can be well worth looking into as part of your inheritance tax planning; we would be happy to discuss with as part of a variety of the other services we offer here at Ormerod Rutter. It can be useful to look at in conjunction with any pensions or financial planning discussions we conduct, or even as part of your tax concerns. Our expert team have a wide range of expertise and will discuss your requirements and needs with you at length so they can give you the best advice for your circumstances. Whether you are a private investor or a business owner we will tailor our advice to maximise the benefits of your estate for you and your family in the most appropriate manner.

If you’re looking to protect the wealth you’ve built for your loved ones, it’s essential to seek expert advice. The structures you put in place can have lasting consequences and tax implications for you and your family. These structures should be reviewed regularly, together with your Will, to take into account changes in legislation.

The right forward planning can protect your estate, avoid unnecessary tax bills and can make a real difference to the lasting financial security of your family. 

From advice and support for families with complex tax affairs, to financial planning for private investors and business owners, our expert team have a wide range of experience and are on hand with tailored support to help you maximize the benefits of your estate for your loved ones in the most efficient, straightforward way.

Personal Tax Planning

Family Tax Issues

Trusts and Estates

Financial Planning and Retirement

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