Taking care with different trusts

Many people think that the attack on trusts carried out by Finance Acts 2004 and 2006 has meant the end of the trust. Not so. A structure invented as long ago as the 1400s is hardly likely to bow down and die in the face of two ill thought out and badly drafted statutes. We have to remember that both the original and also the current use of trusts has been as much for estate planning and the management of financial affairs as it was, or is, for the legitimate avoidance of tax. Never forget that the primary purpose of the trust is to manage assets especially for those people who are either...