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IFA sets out guide to family trusts

IFA The David Aaron Partnership is publishing a guide to family trusts.

On one side of the Aaron trust card is an easy to understand decision tree guiding the user through a number of stages to help choose the right trust.

On the reverse, are concise descriptions of the different types of trust avail- able, including absolute, interest in possession, discretionary, accumulation and maintenance as well as details about chargeable transfers, holdover relief and potentially exempt transfers.

It includes a table setting out a brief summary of the taxation of trusts and details on how to create a trust, how to transfer or change a beneficiary.

Aaron also publishes a more detailed guide to the use of trusts which contains example and recommendations on the use of the different types of trusts.

Chairman and chief executive David Aaron says: “There is little doubt that trusts can offer an investor considerable opportunities to save tax. However, will trusts continue to enjoy favourable tax treatment in the future? It is likely that Labour will review the inheritance tax rules and some of the advantages will be removed. Nobody knows exactly what Labour will do but one thing is for sure – trusts currently offer considerable financial planning opportunities.”


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