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Trusty guide shows way to sidestep tax

The David Aaron Partnership is publishing a new guide aimed at providing advice on setting up trusts for children to avoid tax.

The IFA wants to promote how to set up a trust fund free to avoid inheritance, income and capital gains taxes.

It explains the types of trust and discusses advantages and disadvantages of each type. It outlines how a trust can be used to allow parents and grandparents to give away their assets but still retain an element of control over their investments.

Advice is given on how trusts can be used to avoid a grant of probate, particularly important when considered in relation to a life insurance policy.

David Aaron Partnership senior partner David Aaron says: “Setting up trusts for children is simple, tax-efficient and, unless the trust is compli-cated, can be achieved at no cost. Our guide explains how a parent or grandparent can select the right type of trust to suit their circumstances.”

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