We’ve a range of trusts to help you achieve your financial planning goals. Trusts are often associated with the very wealthy but trust planning can be used in many different situations. We find that there are three main benefits.
- Ensuring those that matter can access the investment without delay.
- Passing on as much of your estate as possible to your loved ones.
- Making sure your wealth passes to who you want.
Using a bond in the appropriate trust can generate an immediate reduction in any potential IHT liability.
Trusts generally don't allow access to the money in them, however to help with inheritance tax planning our wide range includes trusts with some of the following features.
- Access to original capital through fixed payments from the trust.
- Access to your original capital for life.
- Ad hoc access to your original capital as required.
- All references to taxation are based on our understanding of current taxation law and practice in the United Kingdom and Ireland, which may change.
- Trusts establish legal rights and entitlements and might have material financial and tax implications for the settlor, trustees and beneficiaries. Aegon Ireland isn’t authorised to provide legal advice, so you should take your own legal advice before setting up a trust, to make sure that it meets your requirements. Our trusts have been drafted for use by UK domiciled individuals.
- The value of any tax relief depends on your individual circumstances / the individual circumstances of the investor.
Placing it in trust
We provide three different categories of trust.
Bare trusts. A bare trust sets out who’s going to benefit from the trust fund. The chosen beneficiary or beneficiaries can’t be changed.
Discretionary trusts. A discretionary trust provides for a wide range of possible beneficiaries and allows the trustees to control when the beneficiaries can benefit.
Probate trusts. A probate trust is mainly for the benefit of the person setting it up. It gives continued access to the underlying investment with the main purpose being to speed up the claims process on death.