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      Estate Planning

      Trusts are an excellent way of assuming a planned control of your assets, protecting the interests of beneficiaries and saving tax.

      We can advise on the creation, termination and administration of trusts, and will work with you to understand your family and business circumstances before identifying the most workable and cost-effective solutions.

      The impact of inheritance tax can be quite severe on an estate, but its effects can be much mitigated by forward planning and getting the right advice. Glazer Delmar have considerable experience in handling the implications of inheritance tax, and can advise you on the best solutions.

      Trusts

      Trusts can be suitable in a number of circumstances, including:

      • the holding of funds or property for children, either on the basis that an age is specified at which they receive the trust fund, or on the basis that the trustees are given discretion as to when they distribute the funds
      • protecting the interests of beneficiaries from creditors or marriage or relationship breakdowns
      • to ensure that the value of any life insurance or death in service benefits you may have are passed on to your family as tax efficiently as possible
      • the protection of an individual who may not be able to make decisions for himself or herself, because of age or mental incapacity, or who has received damages in a personal injury claim
      • the transfer of funds and property to other persons in a tax efficient way without a loss of control of those funds or property.

      Tax

      “In this world, nothing is certain except death and taxes.” So said the astute Benjamin Franklin.

      Much more recently, Roy Jenkins added, “Inheritance tax is broadly speaking a voluntary levy paid by those who distrust their heirs more than they dislike the Inland Revenue.”

      We can advise on personal tax planning matters with regard to inheritance tax, and make a referral to an independent financial advisor where appropriate, to reduce your tax liability (or that of the estate of a deceased friend or relative) as much as possible.

      In particular, we are able to offer advice on inheritance tax planning if your estate is worth more than the threshold for inheritance tax (£325,000 for tax year 2010-11). This may be through using available tax relief or allowances, lifetime gifting or through the preparation of a tax efficient will or trust.

      We can also advise on the possibility of mitigating tax payable on an estate after someone has died by drafting an appropriate deed of variation.

      Contact us

      If you would like to talk to us about any aspect of Trusts and Tax, please get in touch.

      Call 020 8299 0021 or e mail willsandprobate@glazerdelmar.com

      PLEASE NOTE: Our bank details have now changed. Please contact the Accounts office directly on 0300 373 9313 for more information.

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