One of the UK’s oldest legal concepts, trusts allow you to build up or ring-fence assets without them being spent in the way a gift might.
Lycetts is an expert at handling the interests of all parties involved in trusts and works closely with clients to arrange trusts that distribute assets in accordance with their wishes.
There are Discretionary Trusts and Bare Trusts (also known as Absolute Trusts).
We also use the following trusts:
Discounted Gift Trusts, Loan Trusts and Gift Trusts
Payments made into trusts are inheritance tax free providing the benefactor lives for longer than seven years, and can be made in addition to the usual gift thresholds.
As well as a tax-free incentive, gifts made into trusts give the benefactor more control of how much is distributed and when, and allow the savings to grow. This approach is often taken when the beneficiary is a young person set to benefit from the estate at a later stage in life.
To discuss trusts and inheritance tax in more detail, please simply contact us with your enquiries.
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Read more about developments both in insurance and at Lycetts.
July 21, 2017
Insurers are reacting to the number of claims due to fire which have devastated both bale stacks and the barns in which they are kept. As a result the terms of many fire insurance policies have changed with a greater onus on farmers to take steps to reduce the risk of fire. Failure to do this may result in an invalid claim.read more
July 9, 2017
Lycetts is the headline sponsor for the 2017 Festival of Hunting for the second year running as part of our ongoing partnership with the East of England Agricultural Society who organise this prestigious event in the hunting calendar.read more