IHT planning: what assets can go in a trust?

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...