Lifetime Trusts
Setting up a Trust can be a flexible and tax effective way to provide for your loved ones.
Plan for your future with a lifetime trust
With a Lifetime Trust, you can protect your most valuable assets, such as your property, whilst you are alive.
At Goughs, we have extensive experience in lifetime Trusts ensuring a tax efficient way to preserve your wealth and provide for future generations.
What is a Lifetime Trust?
A Lifetime Trust can protect your most valuable assets without restricting your access to the fund. Trusts can be complex and require experienced advice and help to obtain the many benefits they provide.
Popular questions about lifetime trusts
Lifetime Trusts are different from Will Trusts because they are established straightaway and not upon death
You can set up a Trust during your lifetime or on your death using your Will.
The implications of either option will differ depending on the tax consequences and your own circumstances. You should seek advice when deciding the best time for you to create a Trust.
A Trustee takes legal ownership of the assets held by a Trust and assumes fiduciary responsibility for managing those assets and carrying out the purposes of the Trust.
As there are so many circumstances in which it may be worth considering the creation of, or administering a Lifetime Trust, at Goughs we are happy to offer advice on what might work for you. We consider each individual’s unique objectives and can advise on the types of Trust available to you.
We can help you consider which type of Trust would better suited to your objectives and what the implications of setting up a Trust may be. This could include tax charges on the creation of a Trust, or considerations about your own future. We can also advise you on the things to consider when choosing Trustees and what the role would entail.
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