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Flexible wealth protection
A trust enables you to give away assets but on terms that they will be dealt with in a certain way.
An increasing number of individuals want to set up trusts, not just to tackle the issue of inheritance tax, but also to deal with individuals' concerns about bankruptcy or divorce proceedings - people are looking to trusts to provide them with added protection for their funds.
Trusts offer valuable flexibility and wealth protection, as well as more options than a simple legacy gift - if someone wants to make sure their surviving spouse has a roof over their head but is keen to protect their capital in the event of a remarriage, a trust offers an ideal solution. It can also be very useful to set money aside in a trust for children until they are older and better able to deal with the responsibility.
With many people now living longer, setting up a trust can also allow monies to effectively "skip" a generation, something which is an increasingly popular option for sons and daughters who are themselves in their 50s or 60s and already financially comfortable. By looking at several generations of a family together, our solicitors can help you understand the best scenario for your particular circumstances and the relevant tax planning options.
Our role often involves using trusts (or other appropriate vehicles) to structure clients' business affairs and family investments, dealing with taxation issues arising on divorce and reducing taxes on death. We are also able to advise clients on all aspects of both onshore and offshore trusts.
Clients seeking impartial administration of a family trust can choose The B P Collins Trust Corporation as a professional trustee to ensure their trust is administered correctly.
In addition, the B P Collins trust administration team understands the role of a trustee and can guide them through the increasing legislation that encompasses a trustees' duty. We can offer efficient and expert handling of your trustee compliance obligations and assist with the day-to-day maintenance of your trust, including any key changes that affect the trust over time.