Family Controlled Trusts
Whether you are trying to arrange a framework to protect pension benefits, insurance pay-outs, property or investments, most people choose to use a family controlled trust.
This means that the settlor (the individual giving away the asset), chooses responsible family members to look after the trust (the trustees) for the benefit of family members (the beneficiaries).
As soon as the asset enters the trust, only those named as trustees have a say on how it is distributed and only those named as beneficiaries can benefit. It also has the additional benefit of being potentially exempt from inheritance tax (IHT).
The focus of most clients’ concerns suggests that tax planning is secondary to the control of the assets. That is to say that most people are keen to protect their children’s inheritance in the events such as divorce, ensure that those who are not mature enough to manage their own finances can be provided for without them having direct access to the capital and that the family controls the family’s wealth.
At Churchill Wealth Management we are helping clients mitigate these concerns through the use of family controlled trusts. We aim to ensure our clients pay as little as possible on their estates by using flexible legal frameworks. These not only guard from punitive taxes but also protect bloodlines and ensure wealth remains within a family.
The FCA does not regulate estate planning.
I’ve dealt with Antony and Matthew for a number of years and have to say the service has been brilliant. They manage all my family’s money and we highly recommend them. Our investments and pensions have done very well and whenever I have any questions they always go out of their way to help!