The best gift for your family this Christmas could be…a trust

With the cost of living continuing to increase many are worried about how the younger generation will cope financially. Those who kept a close eye on the chancellor’s Autumn Statement last month will have noticed that with capital gains tax allowances set to be cut planning is more important than ever. Trusts are an efficient way to hold family wealth enabling it to pass down to the next generation while providing more protection than an outright gift.

What is a trust?

A trust is a legal entity which is set up by an individual known as the ‘settlor’ often to help protect assets and to provide financial stability for the future. Assets such as cash properties or shares are placed within the trust for the benefit of chosen beneficiaries without giving them ownership of the assets. The settlor chooses individuals to...