Trusts

Helping you make the right decision

Trusts are very useful tools for tax purposes, especially if you’re worried about a substantial amount of inheritance tax being deducted from your estate once you pass away. If you put money or assets into a trust, it is still your property but managed by a trustee who is obliged to make sound financial decisions that are in your best interest. The assets in the trust are held to benefit a third party of your choosing, who are known as your beneficiaries.

You can use trusts for a range of purposes. For instance, they can be used to hold money for someone who cannot handle the responsibility of wealth at the moment, perhaps because of their age. Alternatively, they can be used to hold private company shares, gift money to children or define the access to your estate your beneficiaries get. As part of our trust service, we would be happy to find the type that fits your needs and even act as your trustee.

There are four main types of trusts, which are often suited to very particular goals and objectives. At Wells Associates, we’ll walk you through each one so you have all the facts and information you need to make the best decisions for you and your beneficiaries. Each one also has different tax rules, which is why it’s so important to talk to a professional before you open up a trust. With an eye for detail and our mind on the bigger picture, we’ll help you achieve your goals.