IHT planning: what assets can go in a trust?

clock

The tax benefits of writing life insurance in a trust have been widely publicised, but other assets can also benefit from this type of proetection.

What is a trust? A trust is a legal agreement that lets you transfer the ownership of your assets to another person. Who is involved in a trust? There are normally 3 parties: - The settlor who is the person that sets the trust up and puts, for example, a life insurance policy into it. They choose the trustees and who they want to benefit from the trust. - The trustees who look after the assets of the trust and manage them in accordance with the trust deed and in the best interests of the beneficiaries. - The beneficiaries who are the people who may receive the money or oth...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax Planning

Majority of advisers think NI cut will not boost pensions savings

Majority of advisers think NI cut will not boost pensions savings

Only one in ten think people will put the extra cash into pensions savings

Isabel Baxter
clock 11 March 2024 • 1 min read
Partner Insight: Royal London's Fiona Hanrahan — 'Your top tax year end questions answered'

Partner Insight: Royal London's Fiona Hanrahan — 'Your top tax year end questions answered'

Fiona Hanrahan, Senior Intermediary Development and Technical Manager, Royal London
clock 08 February 2024 • 3 min read
Treasury collects £2bn in 12 weeks as IHT receipts continue to soar

Treasury collects £2bn in 12 weeks as IHT receipts continue to soar

Figure breaks down at £22m a day for the government’s coffers

Hope William-Smith
clock 21 July 2023 • 2 min read