Trusts & probate

Sagars operate probably the largest trust team in the region, so you’ll benefit from specialist expertise and wide experience in this complex area.  Whilst trusts are undoubtedly an important tool to help protect your estate from unnecessary Inheritance Tax (IHT) when you die; perhaps fewer people realise their real strength in enabling you to manage difficult issues such as protecting your family and passing on your business to a different generation.

Many people have a straightforward view of what they want to happen with their assets or their business in the future.  Unfortunately, life has a habit of throwing up the unexpected to disrupt your plans (for example, a family member with a long term illness, a grandchild with special needs, an adult child getting divorced, or just the realisation that it’s your granddaughter and not your son who’s best place to take over your business).  Using trusts can give you the flexibility and control to cope with changing circumstances.

Trusts also allow you to protect your surviving spouse or other beneficiaries from the problems, pressures and unwanted attention often associated with inheritance.  So, for example, if you feel that your children wouldn’t be ready to inherit at 18, but might be better waiting till 21 or 25, you can build this into the trust requirements.

Certainly if your estate is worth more than £325,000 (£650,000 for couples) then it makes sense to explore how you could benefit from using trusts.

Sagars has significant expertise in this complex and sensitive area.  We advise many clients on setting up different types of trusts, linking this in with wider tax and business succession planning when appropriate.  We deal efficiently with the ongoing administration of trusts and several of our Partners and consultants are experienced Trustees. We are also experienced in dealing with probate when someone does die, including the preparation of accounts and tax calculations for the estate.

Contact Fergus Beadle on 0113 297 6737 or f.beadle@sagars.co.uk for more information.