A Trust is a tool which can be used to protect wealth and assets. Trusts can be tailored to suit individual requirements in a variety of circumstances such as:-
1. Inheritance Tax planning
Trusts may be incorporated in to a Will or created during lifetime to help reduce any potential inheritance tax charge.
2. Long Term Care Planning
It may be possible to protect wealth (for example your property) from means-tested assessments, which are undertaken when residential care may be required.
3. Compensation Protection
Compensation received as a result of a personal injury claim (or similar) could detrimentally affect claims for means-tested benefits and a Trust could offer shelter for the compensation received so that means-tested benefits are not affected.
For an informal, no obligation discussion to consider your personal trusts and tax planning requirements please contact a member of the Private Client team.
For more information on how Clough & Willis can help contact Richard Phillips richard.phillips@clough-willis.co.uk, Ciara Hannawin ciara.hannawin@clough-willis.co.uk or Rebecca Green rebecca.green@clough-willis.co.uk
