You may wish to set up your own trust or charity. This can be done during a person’s lifetime or arise after death. It can be an opportunity for a person to protect their assets for their children or provide a lasting legacy.

Trusts

A Trust can be used to safeguard money or an asset for a particular person or group of people and can be particularly useful if there are disabled children, financial or family relationship difficulties. A trust can help to ensure that the people you choose receive the full benefit of the property you leave, rather than it be lost because of unforeseen circumstances.

Charities

A charity or ‘lasting legacy’ could help to give financial support to a local, national or even a global cause, for example, to provide financial assistance for young or vulnerable people. It allows a person to put something back into society and can also help to reduce Inheritance Tax.

David Killingworth and Stephen Parrot are both STEP qualified practitioners experienced in providing advice in relation to Trusts and Charities.

For more information about Charities & Trust Administration