Protecting your wealth for future generations

Protecting your wealth for future generations requires careful planning. A trust structure is a beneficial tool to assist you to protect your assets for the benefit of your family and friends.

Often used as a means to protect descendants from inheriting large sums, divorce and creditors, it can also save substantial sums in Inheritance Tax.

A trust can be created during lifetime or on death ie by your will. Which option is most suitable is client specific and depends on your aims, tax implications and the value of your assets.

Our expert succession planning and asset protection team can provide professional trustee services to ensure impartial management of your trust fund.

Having an independent professional trustee is often welcomed by the family, who perhaps do not have the experience, time and legal knowledge to deal with trust administration.

Letters of Wishes

When considering a trust structure, it is important to also consider leaving a Letter of Wishes to help guide your trustees in administering the Trust.

The letter is not binding, but it serves to capture your guidance on matters that require discretion. It helps to explain your views on how you would like funds to be invested, distributed and how to exercise powers.

The Letter of Wishes must be clear – in terms of formalities, it must be signed and dated. It can be updated at any point and must be kept with your will or trust deed at all times.

It is important to review your letter on a regular basis to ensure it fully conforms to your wishes.

Contact Melanie Christodoulou to find out how we can help you.