Trust funds are a key part of estate planning. Trusts funds are a legitimate and well-established way of ring-fencing some of your estate from your inheritance tax liability.
Although the capital is locked in a trust fund, you may be able to have the interest as a form of income – so you are still making use of the trust fund money, you haven’t given it away, but you have removed it from your estate.
Setting up a trust fund
A trust is a legal arrangement where one or a group of people or a company control money or assets which must be used for the benefit of named beneficiaries.
Setting up a trust fund is a technical process, which is where the team at Hartsfield comes in.
We will work with you to decide how much you want to put into a trust, and what sort of trust you want – you may want a child trust fund, for example.
You will need to decide who you want as your trustees – perhaps family members or friends, or you could choose a company.
ESTATE PLANNING GUIDE
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