Trust and estate planning

Trust and estate planning advice in the UK, including inheritance tax planning, trusts, estate administration and succession planning.

We advise on trusts and estate planning where there is a need to manage exposure to inheritance tax and ensure assets are structured appropriately.

This is typically part of a wider planning exercise and tailored to your specific circumstances and objectives.

When this is relevant

We are usually involved where:

· There is potential exposure to inheritance tax
· Assets are being passed to the next generation
· Property or business interests are involved
· Longer term planning is being considered
· There is a need to balance control with succession planning

We also advise during the administration of estates where tax decisions need to be made following a death.

What we advise on

Inheritance tax planning

· Reviewing exposure to inheritance tax
· Planning around lifetime gifts
· Considering available reliefs, including Business Property Relief and Agricultural Property Relief
· Structuring assets to manage long term exposure

Use of trusts

· Advising on when a trust may be appropriate
· How a trust fits within the wider planning
· The tax implications on entry, during the trust, and on exit

We focus on ensuring any trust structure is appropriate for your circumstances and not unnecessarily complex.

Trust taxation and ongoing considerations

Where trusts are used, it is important to understand the ongoing tax position.

This may include:
· 10 year (periodic) inheritance tax charges
· Exit charges when assets are distributed
· Ongoing income tax and capital gains tax implications

We advise on how these charges arise and how they can be managed as part of the overall planning.

Planning around ending or restructuring trusts

There are situations where an existing trust may no longer be appropriate.

We can advise on:
· When it may be appropriate to bring a trust to an end
· Distributing assets to beneficiaries in a tax efficient way
· The timing of distributions to manage tax exposure
· Restructuring arrangements where needed

This ensures the trust continues to serve its intended purpose or is unwound efficiently where it does not.

Estate administration and post-death planning

We also advise on tax matters arising during the administration of an estate.

This may include:
· Whether assets should be sold during the estate or transferred to beneficiaries
· The tax implications of disposals during the administration period
· Use of deeds of variation to alter how assets pass
· Passing on inherited assets to other family members in a tax efficient way

These decisions can have a significant impact on the overall tax position and should be considered carefully.

Family and succession planning

· Passing assets to the next generation
· Balancing control and access to assets
· Structuring ownership in a practical and workable way

Interaction with other taxes

Capital gains tax implications of transfers

Income tax considerations

Ensuring the overall position is aligned across all relevant taxes

Our Approach

We focus on practical planning that works in reality, not just in theory.

This involves:
· Understanding your current position in detail
· Identifying areas of exposure or risk
· Setting out the available options clearly
· Explaining the tax and practical implications of each option

Where trusts are considered, we ensure you understand the ongoing responsibilities and implications before proceeding.
The focus throughout is on providing advice that is clear, considered and capable of being implemented in practice.

Examples of where we assist

Reviewing an estate with property and business assets to assess inheritance tax exposure and planning options

Advising on whether a trust structure is appropriate as part of longer term planning

Supporting decisions during estate administration, including whether to sell or transfer assets

Advising on variations to redirect assets to other beneficiaries

Reviewing existing trusts and advising on whether they should be continued, restructured or brought to an end

Working with other advisers

Trust and estate planning often involves legal input.

We can work alongside your solicitor and other advisers to ensure the tax and legal aspects are aligned and implemented correctly.

Who this is for

Individuals with estates that may be subject to inheritance tax

Business owners considering succession planning

Property owners looking to structure assets efficiently

Families planning for the transfer of wealth

Executors and beneficiaries dealing with estate administration

Fees

Fees will depend on the level of planning required and the complexity of your position.

We will agree scope and fees in advance.

Next Steps

If you would like to review your position or discuss planning options, please get in touch and we can arrange a call.

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