Trusts & Estate Planning
Legal and financial issues often go hand in hand. This is especially true when it
comes to trusts and estate planning.
Our financial advisers are experienced in dealing with practical solutions for what
can be a very complicated subject. We also have legal experts on hand who can provide
legal advice and a tax & trusts lawyer who can provide specialist advice, if required.
Trustee Investments
The Trustee Act 2000 imposes various legal obligations on trustees particularly
when it comes to investing trust money. The obligations equally apply to Attorney’s
or Charities. You are required, amongst other things, to ensure that Trust investments
are suitable, appropriately diversified and reviewed regularly. There is also an
obligation to take investment advice.
Tax is also an important consideration as different tax rules apply to different
trusts. Some investments are more suitable to one particular type of trust than
another.
We can help you to construct a suitable investment portfolio taking into account
the type of trust and the aims and objectives of the trust. We can also review existing
trust investments.
Beneficiaries
If you are a beneficiary, do you know what you are entitled to from the trust? Are
you receiving valuations of the trust investments? Are you receiving less income
and don’t know why?
We can review your position and check that the trust is being run in accordance
with the obligations imposed by the Trustee Act 2000.
Tax Planning
Trusts are generally set up to protect or determine the future direction of an asset
and/or to reduce tax. Different trusts have different consequences and we can discuss
with you whether the use of a trust is appropriate for your particular circumstances
and if so, advise you as to the most suitable type of trust.
Estate (Inheritance Tax) Planning
The aim of estate planning is to mitigate or avoid the impact of inheritance tax
and to ensure that your assets are passed down to your chosen beneficiaries in a
tax efficient way.
The current threshold for inheritance tax is £325,000 (Tax year 2009/2010) and the
current rate of tax is 40% on all assets above this figure although there are a
number of exemptions and allowances.
We can review your financial circumstances, advise you of any potential inheritance
tax liability and discuss the options available.
If you would like to arrange an appointment to see one of our advisers, please email
financial.services@chattertons.com
or contact Richard Ludlow on (01780) 764145 or Tim Barker on (01205) 351114.
Contact Details
Financial Services Team