Trusts and Tax Planning Solicitors in Luton

Trusts and Tax Planning Solicitors in Luton

When you have made a tax efficient will, any further tax mitigation must be by gifting and actions taken during your lifetime. Our team of solicitors in Luton can work with your accountant or other professional advisors and advise on schemes or trusts which may avoid or reduce your Inheritance Tax and/or Capital Gains Tax liability.

Tax Planning and Protecting your Assets

You may be concerned about the possibility of having to use your life savings and sell your home in order to pay nursing or residential care home fees in the future. Statistics show that some 40,000 people in the UK are forced to sell their homes every year and this is likely to increase.

Trusts

The use of trusts, whether in a lifetime settlement or in a will, can have great benefits in making long term financial provision and saving tax. We advise on the most favourable use of trusts and deal with their preparation and, if required, their administration. The firm's partners are willing to be appointed as professional trustees if required although we always suggest that there is at least one lay person as a trustee.

By gifting to trusts in your will, you can place a ‘wrapper’ around some or all of your assets and prevent them from being taken into account for some purposes such as, a divorce settlement and means tested care provision. They can also ensure that your assets are eventually inherited by your children rather than your spouse’s new spouse should you die first.

Trusts can also be used to manage assets for the benefit of someone who may not be able to manage them themselves due to perhaps physical or mental incapacity.

How we can help

We can advise on the most suitable trust for your circumstances, set it up and if required, administer it on your behalf.

Get in touch with our Private Client team in Luton by calling 01582 725311, email info@nevesllp.co.uk or complete our Online Contact Form and we'll get back to you.

See also

Thank you for your time and advice today. You made a difficult process feel very comfortable. Thanks again.

Maxine Braham
Senior Associate and Head of Private Client Luton
Jennifer Garner
Solicitor - Private Client