New years come with resolutions and plans to improve wealth management – there are a number of ways that you can make trusts work for you in the coming months and years to help provide for your family and mitigate your inheritance tax liabilities too.

Plan for School & University Tuition Fees

The rising cost of university tuition has been a matter of concern for families for the last decade – all reasonable predictions state that costs will continue to rise in the coming years and it is important to prepare for the total cost of tuition to ensure that your family members do not leave university with substantial debts before they have even put their degree to use.

You can set up trusts to keep funds safe at any point in your loved one’s life, or even before birth to have the peace of mind that their education has been provided for.

Keep Property and Investments Safe

Trusts can also be used to keep property from falling to people outside the family, either through divorce or other means. If you have properties that are rented out or other investments, you can place these in a trust. This changes how they are taxed and can help to retain more of your wealth on an annual basis.

Reduce Inheritance Tax Liabilities

Trusts can keep your family’s wealth intact for generations, and are a particularly effective mechanism for reducing inheritance tax liabilities and ensuring that your family can retain your assets after you are gone. Trusts also ensure that your family do not have to go through a lengthy probate process before being able to use properties, monies, or investments that you have left them.

Speak to us today to find out how we can arrange your trust to make the most of your investments and hard work.