Trusts are suitable investment vehicles which can subsequently turn into a great tool for flexible giving both during life and after death in a tax efficient manner.
It is imperative however that advice is sought at an early stage, in order to ensure the correct trust is chosen to meet our needs.
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The tax treatment of trusts is complex and depends on a variety of factors, including the age and circumstances of those who will benefit. Don’t assume simply having a trust is enough to wipe out your IHT liability. Although Coutts does not provide tax advice, we work with specialist lawyers and accountants to identify the best structure to leave a lasting legacy.