Trusts are tax-efficient arrangements that allow you to give away assets such as money, property and shares, in a way that you specify, for the benefit of the people you choose.
Although they are often thought of as only for the wealthy, they can be equally valuable for people with much more modest assets and are a useful tool in reducing tax liabilities, particularly inheritance tax, whether they are created during your lifetime or by your will.
They can also be used to reduce the cost of your own care in later life or to specify at what age or in what circumstances you wish your beneficiaries to receive money or property.
At RDP Newmans, we are experienced in trust work and can advise on the most appropriate type of trust for your needs, assist in setting up the trust and provide the full range of accounting services required for trust management.
If you are setting up a trust as part of your will, you will also need to appoint executors to carry out the arrangements set out in your will, which can be a challenging task for a relation or friend who has never acted as an executor before.
We are experienced in acting as executors and provide a cost-effective, professional service, designed to deal with the administration of the estate as quickly and efficiently as possible.