Many clients believe that Trusts are only for the wealthy or those with complex circumstances.

However, Trusts can be extremely useful in many other instances and they are often essential in protecting your estate for future generations after your death.

Our Approach to Trusts and Estate Planning

Trusts can be complex but can also be straightforward. At Savage Silk we listen to your needs and provide you with a number of options that are suitable for your circumstances. The law relating to Trusts can change frequently, from a change in tax laws to developing case law. We are specialists in the area of trusts and can advise you in a coherent manner relating to both setting up a new trust or in relation to an existing trust.

Why should I make a Trust?

Trusts are primarily established to protect your estate and for future generations.  Have you already provided for your children and would now like to benefit your grandchildren?  Are you concerned about your spouse remarrying after your death?  What if they die without a Will and most of your estate passes to their new spouse?  This does happen.

Other reasons include:

  • To protect family assets, such as property, from the divorce or bankruptcy of your children or grandchildren;
  • For family succession, i.e. if bypassing your adult children to ensure the estate is used for the education or benefit of your grandchildren;
  • When someone is too young to manage their affairs;
  • When a relative is disable or incapable of managing their affairs;
  • Protection the means-tested benefit of a loved one, who may otherwise inherit a lump sum from your estate;
  • Protection your estate from care home fees;
  • Flexibility – the circumstances of your beneficiaries might change in the future, by setting up a trust you can ring-fence your assets and appoint Trustees to manage those assets and appoint funds out to individuals after your death.

HIGHLIGHTS

Mr C had substantial assets in excess of the nil rate band and the residential nil rate band. Mr C understood that he would have some inheritance tax to pay. His main concern was to control how his vulnerable adult son received his inheritance.
We advised Mr C on a Will Trust that would give his Trustees the flexibility to appoint assets to his son at different stages of his life and in different circumstances up to the age of 45. We advised Mr C to include charities within his trust to reduce his IHT bill.
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Next Steps:

We will be happy to discuss any of the above and any other matters with you.

The first step is to contact one of our experienced team on 0345 209 4700 or email enquiries@savagesilk.co.uk to find out how we can help you create a Trust. Alternatively, request a call back.