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 (IHT) liabilities.
At Mattioli Woods, we understand that setting up a trust can be complex, which is why our team provides clear guidance to ensure your plan aligns with your individual circumstances and goals.
With a dedicated consultant and client relationship manager, we provide regular reviews and professional management to ensure your trust planning remains aligned with your wishes.
A trust is a legal arrangement that allows you to pass on assets such as cash, property or investments to a group of trusted individuals, known as trustees. These trustees are responsible for managing the assets on behalf of your chosen beneficiaries – people you want to benefit from your wealth, such as family members.
Trusts are a powerful tool for managing your wealth and making sure it’s distributed exactly how and when you want. They give you more control over your estate (the assets you leave behind) and can help you achieve specific goals, like reducing tax liabilities or supporting family members in the future.
As Chetan Mistry, Team Director, explains,
“Trust planning is the process of setting up and managing trusts to achieve your financial and estate planning goals. It involves carefully selecting the right type of trust to meet your specific needs, whether you’re aiming to reduce Inheritance Tax, protect assets or ensure your wealth is passed on to the right people in the right way.”
In the UK, several types of trusts are available, including specific family trusts, each with its own tax implications and benefits. Some trusts allow you to retain control over the assets, while others may offer more flexibility for your beneficiaries. It’s important to speak to expert trust planning advisers about setting up the right trust for your specific needs.
Trust planning is important because it helps you manage how your wealth will be distributed in the future, ensuring that your wishes are followed, even if your circumstances change. There are several benefits of a trust.
With a trust, you can retain control over how and when your assets are distributed. For example, you might wish to support your grandchildren but feel they are a little too young to manage a large inheritance. In this situation, 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, let’s say you have two children from your first marriage and have since remarried and had more children with your new spouse. If you leave everything to your current spouse, there’s a chance your children from your first marriage might not inherit anything. This could happen if your spouse remarries or changes their will after your passing.
By placing assets into a trust, they could be excluded from your estate for Inheritance Tax (IHT) after seven years, as long as you no longer benefit from them. Additionally, any growth in the value of the assets is immediately outside your estate, so future gains won’t be 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.
Over 30,000 individuals and families have partnered with us for expert financial and discretionary family trust planning. Many stay with us for ongoing guidance as their needs evolve.
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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.
If you're considering starting a family trust to protect your home, pass money to your grandchildren, or to benefit your loved ones, book a complimentary consultation with one of our advisers today.
Book your complimentary consultation today
A trust can be a valuable way to protect your assets, manage how your wealth is passed on, and provide for your loved ones in a structured way. It can also offer potential tax benefits and added peace of mind.
But a trust isn’t right for everyone. The benefits depend on your personal circumstances, the type of assets you hold and your long-term goals. Setting up a trust involves legal and administrative responsibilities, so it’s important to seek professional advice before making a decision.
At Mattioli Woods, our advisers can help you understand whether a trust is suitable for your situation and guide you through the options available.
There are three main roles in setting up a trust:
Trustees have control over your trust and are responsible for managing and distributing assets to your beneficiaries according to your wishes. It’s important to choose individuals you trust, who are capable of handling financial matters and understand the responsibilities involved.
You can select family members, friends or even professional trustees, such as lawyers or accountants, to ensure your wishes are carried out properly and impartially.
Setting up a trust involves careful planning, so we recommend working with our expert advisers to design and implement a trust that meets your needs and objectives.
If you’re ready to create a trust for your family, 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 a tax 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, but it can reduce your IHT liability and offer valuable estate-planning solutions. This is because a trust is subject to its own set of Inheritance Tax rules and charges. Our specialist trust planning advisers can explain more about these rules and how they relate to your individual circumstances.
Yes, changes can be made to a trust after it has been established. At Mattioli Woods, we provide ongoing support and regular reviews of your trust to ensure it remains aligned with your goals and circumstances.
A family trust is a legal arrangement that lets you transfer assets like property, cash or investments to be managed on behalf of your family members. It allows you to control who benefits from your wealth and when, offering protection and ensuring your assets are passed down as intended.
These can also help reduce Inheritance Tax and provide security for future generations. With different types of family trusts available, it’s important to work with an adviser to set up the right trust for your family’s needs.
While a will and a trust can both be classed as wealth management, there are key differences. A will outlines how your assets should be shared after your death. A trust is a legal arrangement where you give assets to someone else (the trustee) to manage for your chosen beneficiaries, either during your lifetime or after your death. Wills become effective after your death, whereas trusts are set up and become effective during your lifetime.
The cost depends on the trust’s complexity, the type of trust being created, and the level of planning involved. Some trusts are straightforward, while others may require more detailed legal or tax considerations.
To find out more about the costs and the type of trust that best suits your needs, we recommend booking a free consultation with one of our advisers.
Yes, Mattioli Woods can take over the management of your trust provided it 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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