Gift & Inheritance Legacy Trust

While you may want to leave a good legacy for your children or grandchildren, if your estate is of a certain size up to 40% of it could be taken in Inheritance Tax (IHT). A Gift & Inheritance Legacy Trust helps reduce the value of your estate while you’re alive, so more can be passed on and less owed in IHT.

The Trust is used to house whatever assets you want, including your home, and protects them from risks such as remarriage, divorce, care fees or creditors. Because the assets are ‘gifted’ into the Trust, they’re treated as a Potentially Exempt Transfer – and after seven years, they would fall outside the estate for IHT purposes.

In addition to being tax-efficient, the Trust has other advantages – it minimises the fees and delays associated with probate, and cannot be contested, reducing the risk of disputes or complications.

To see if a Gift & Inheritance Legacy Trust would be perfect for you, get in touch with our experts below.