Our trust planning services are designed to help you manage, protect, and pass on your wealth to your loved ones while potentially reducing Inheritance Tax liabilities.
A trust is a legal arrangement that allows you to transfer assets such as investments, cash, or property to trustees who manage them for your chosen beneficiaries.
This creates a powerful estate planning tool that gives you control over how and when your wealth is distributed.
In the UK, there are different kinds of trusts available, each with their own tax implications and benefits, so it’s important to speak to your financial adviser about setting up the right trust for your specific estate planning needs.
Here’s why setting up a trust could be the right choice for you.
With a trust, you can retain control over how and when your assets are distributed. For example, if you wish to support your grandchildren but feel they are a little too young to manage a large inheritance, you can set up a trust fund to ensure they reach a certain age or milestone before having access to the funds. This means your assets are used in line with your intentions.
Trusts can safeguard your assets from risks such as divorce, bankruptcy, or poor financial decisions by beneficiaries.
For example, imagine you have two children from your first marriage and, after remarrying, you also have children with your new spouse. If you were to leave everything outright to your current spouse, there is a risk that, after you pass, your children from your first marriage could be unintentionally excluded from inheriting your wealth, especially if your spouse remarries or changes their will.
By placing assets into a trust, they can be removed from your estate for Inheritance Tax purposes after seven years, provided you no longer benefit from them. Additionally, any growth on the assets within the trust is immediately outside your estate, so future gains are not subject to IHT.
Assets held in trust do not form part of your estate and are not subject to probate. This means your beneficiaries can access funds more quickly, which can be particularly helpful for covering immediate expenses such as Inheritance Tax bills or probate fees. This can provide vital financial support at a difficult time without any delays.
Setting up a trust is a proactive way to secure your family’s future, protect vulnerable loved ones, and ensure your legacy is managed exactly as you wish.
At Mattioli Woods, our trust planning services offer tailored solutions to suit your family’s unique needs, providing peace of mind for you and your loved ones.
You will be provided with a dedicated consultant and client relationship manager who will provide regular reviews and professional management, ensuring your trust planning remains aligned with your wishes and any changing circumstances.
If you’re exploring options for putting your house in a trust or looking for the best way to leave money to your grandchildren, or wanting to create a trust that’s specific to you and your family’s needs, book a complimentary consultation with one of our advisers today.
A trust is a legal arrangement that lets an owner of something ‘gift’ it to someone else. This could be an investment, cash, life policy or a home. With a trust, you can choose who can benefit from the trust assets, as well as how and when your wealth is distributed.
There are different kinds of trusts available, and each may be taxed differently, so it’s important to speak to your financial adviser about setting up the right trust for your needs.
The trustees have control over the trust and make distributions to the beneficiaries, so you should select people who you trust to carry out your wishes once you’ve passed away.
Setting up a trust involves careful planning, so our advisers will work with you to design and implement a trust that meets your needs and objectives.
If you would like to set up a trust for your family, please book a FREE consultation with one of our advisers today.
Most trusts are typically Income Tax exempt on income up to a certain threshold (normally £500). However, if the income exceeds this threshold, tax becomes payable on the entire amount, not just the portion above the threshold. It’s best to speak to an adviser about the tax rates on your trust. For more information about trusts and Income Tax, please visit the Government website.
No, a trust cannot help you avoid Inheritance Tax (IHT) completely. Trusts can reduce your IHT liability and offer valuable estate planning solutions as they are subject to their own set of Inheritance Tax rules and charges.
Yes, changes can be made to a trust after it has been established.
A will outlines how your assets should be distributed after your death, while a trust is a legal arrangement where you give assets to someone else (the trustee) to manage for the benefit of a beneficiary, either during your lifetime or after your death. Wills become effective after your death, whereas trusts can be set up and become effective during your lifetime.
The cost depends on the trust’s complexity, so consulting with a consultant who can provide an estimate is recommended.
Yes, Mattioli Woods can take over the management of your trust provided the trust has been registered with the Trust Registration Service (TRS). If you’re already a client of ours, you should speak to your consultant. If you’re new to Mattioli Woods, book your free appointment here to discuss how we can support your trust planning.
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