Trusts

There are several types of UK family trusts and each type of trust may be taxed differently.

Trusts and trust funds may be set up for a number of reasons, for example:

• to control and protect family assets;
• for minors when they are too young to handle their affairs;
• when someone can't handle their affairs because they are incapacitated;
• to pass on money or property while you are still alive;
• to pass on money or assets when you die under the terms of your will - known as a 'will trust';
• under the rules of inheritance that apply when someone dies without having made a valid will;
• to preserve personal injury compensation.