Which Trust Is Right For My Clients’ Lifetime Planning?

The above heading is always an important question when you meet with clients either for the first time or maybe as a result of a review due to time passed or a change in circumstances.

The first thing to consider is whether my clients indeed need a trust at all, however the answer to this for virtually every client is going to be yes, but why might this be? And how do you portray this to the client so they can then make an informed decision based on the advantages a trust may bring and then consider this along with the possible disadvantages, the latter usually only being the initial costs to implement it over a “standard” gift (Potentially Exempt Transfer (PET)).

Once the client’s circumstances are considered why should you then consider one trust over another?

It all comes down what is motivating factor? If it’s to ensure as far as possible that assets will be available to beneficiary’s without the holdup that the probate process can bring then a Probate Trust may be the solution if the client is not/does not need to seek an Inheritance Tax (IHT) advantage, but which one? Countrywide offer specific Probate Trust solutions tailored to the particular type of asset that the client wishes to transfer…

If the client is wanting to try and reduce the exposure that their estate has to IHT, then a trust that excludes the Settlor of said trust is required, but again a generic trust could land the client with unexpected and often unexplained (to them at least) tax consequences. We will further explore in the Webinar the subtle differences between the various Countrywide Gift trusts and why they exist!

I addition we will cover those vital trusts that save an IHT liability that the client may think they don’t even have…. Life Assurance Trusts and Pension Death Benefit/Death In Service trusts, every last bit should be in trust! It needs to be the right trust though so we will explore the special features of Countrywide’s offerings and the advantages that they bring to you and your clients…

There is so much to cover and so much we are passionate about so make sure you register for Superman Webinar No. 67!

It’s no good having a greater understanding of the trust options available to your clients if you haven’t go the toolkit to facilitate and draft all of them for you as well as the backup from an experience 80 + strong team. The Legacy Software and Countrywide Tax and Trust Corporation Ltd provides all this and more so make sure that you tune it to find out what you need to know!

Register your place on our free webinar.

All webinars begin at 10am and finish at 11am

This article was submitted to be published by Countrywide Tax & Trust as part of their advertising agreement with Today’s Wills and Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.

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