Trusts and Asset Protection
There is almost no limit to the way that modern trusts can be used to protect family wealth. Below are just a few examples of how they could help your family.
Tax planning
Although their inheritance tax benefits have lessened in recent years, trusts are still an integral part of most tax-planning schemes.
Family businesses
The owners of family companies often establish trusts for their shares. This can help maintain stability and business continuity in the event of a family member’s death.
Litigation and disputes
We live in an increasingly litigious society. Trusts can shelter assets from future claims against your personal property.
Incapacity
Trusts can be established to look after family members who become physically or mentally incapacitated. In such circumstances a power of attorney could also be used to give trusted family members the ability to make decisions on someone's behalf.
These are just a few examples of the ways in which trusts can protect your wealth. To find out more, contact one of our trust specialists.