Advisers should consider trusts to avoid tax hit: Skandia Int

Only 5% of 250 offshore advisers surveyed globally for the firm's research say they use trusts for the majority of their clients. Approximately three quarters of advisers say they use trusts for just 10% of their clients, the research found. However, Skandia International warns investors face higher tax charges by not writing assets into a trust. "Trusts are viewed by many to be complicated which perhaps is why few offshore advisers use them," says Rachael Holland, head of product law and financial planning at Skandia International. She believes trusts do not have to be so complex a...