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As a business owner, protecting your assets should be your number one priority. Why work hard to create a lasting legacy if your family and loved ones are going to pay the price once you’ve passed?

As the name suggests, a trust fund is a fund made up of different assets, such as cash, bonds, stocks, property and other financial products that’s intended to benefit a person or an organisation.

Usually a trust is set-up to benefit children or grandchildren but can be set up to benefit a charity or not-for-profit organisation.

Setting up a trust fund is essential if you want to:

  • Protect your assets from the local authorities
  • Guarantee an income for your loved ones
  • Help to avoid inheritance tax

Under the current legislation your house can be sold to pay for residential care. By setting up a trust fund you can ensure that your home won’t be touched and that your estate is passed on to your loved ones.

As well as protecting your property, a trust can also help provide for your family’s future. You might want to consider setting up a trust to safeguard your money if a beneficiary is:

  • Under the age of 18 when they inherit the money
  • Isn’t great with money. Any gift can be released gradually so that it can be given under control rather than one lump sum

A trust fund can also help you avoid paying inheritance tax, ensuring that your beneficiaries receive the full gift you wish to give them. Assets placed in a trust are taken out of your estate and deposited somewhere else.

Because the asset is no longer in your estate it cannot be subject to inheritance tax when you die.

Setting up a trust can be time consuming but the benefits of doing so far outweigh the time it can take to put in place.

So, if you want to learn more about how setting up a trust can help you plan for yours and your family’s future then please don’t hesitate to get in touch with the financial experts at Ogilvy & Haart. Simply call 0333 444 0820 or email