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Trusts

One of the most effective ways you can manage your estate planning is through setting up a trust. The structures into which you can transfer your assets can have lasting consequences for you and your family.

Trusts

One of the most effective ways you can manage your estate planning is through setting up a trust. The structures into which you can transfer your assets can have lasting consequences for you and your family.

It is important that you obtain professional financial advice as the right structures can protect assets and give your family lasting benefits.

A trust is a legal arrangement where one or more trustees are made legally responsible for assets. The assets – such as land, money, buildings, shares or even antiques – are placed in trust for the benefit of one or more beneficiaries. They are not the sole domain of the super-rich. Trusts are incredibly useful and flexible devices that people employ for all sorts of different purposes, including Inheritance Tax planning.

Simplest form

In its simplest form, a trust is just a legal mechanism for separating the ownership of an asset into two parts: the 'legal' ownership (or title to the asset) on the one hand, and the 'beneficial' ownership on the other hand.

It is in the course of Inheritance Tax planning, though, that people are most likely to come face to face with trusts and seek to get an understanding of what they are and how they work. Their use is widespread and, despite some recent adverse changes in tax law, they remain an important tool in estate planning.

Having an effective trust planning strategy in place prepares for every possibility. At D G Financial Services, we can help you provide financial support to your family and help you pass on more of your wealth in the most tax-efficient way.

We are full STEP members, known as ‘TEPs’, and are internationally recognised as experts in this field.

As specialists in inheritance and succession planning, we act as trustees and advise families on how best to structure their finances to ensure compliance and preserve their assets for future generations. 

Some examples of what we may advise on are:

  • providing for someone following their partner’s death, while protecting the interests of their children 
  • ensuring elderly or vulnerable relatives are cared for and supported 
  • ensuring that a family business will pass safely from one generation to another 
  • helping clients to support charitable causes in an effective way.

What is a 'TEP'?

'TEP' stands for 'Trust and Estate Practitioner', and is the designation given to full members of STEP. To become a TEP, practitioners must have a combination of specialist qualifications and experience, including significant involvement at a specialist level with inheritance and succession planning.

To check whether your adviser is a TEP. Click here.

What is STEP?

STEP is a global professional body, comprising lawyers, accountants, financial advisors and other practitioners that help families plan for their futures. We provide confidence to families by setting standards, training and educating our members, and upholding those standards.

Click here to find out about STEP

The Financial Conduct Authority does not regulate taxation and trust advice.

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