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A Business Trust Will

A Business Trust is something which can be incorporated into your Will.

The aim of a Business Trust is to provide a protective shelter which gives your Trustees an opportunity to maximise tax savings. Without this appropriate planning it is easy to lose or reduce the potential relief from Inheritance Tax.

A Business Trust can be designed to benefit a wide range of people. When the Business Trust is created you will be asked to name up to four Trustees. These individuals will be responsible for managing the Trust after your death and for making decisions about when your beneficiaries should receive any benefit. Guidance for these Trustees will be created, usually in the form of a Letter of Wishes, so they are able to carry out their duties in accordance with your wishes.

Business Trusts Can:

  • Be appropriate for both private limited company shares or unincorporated businesses.
  • Can make effective use of available Inheritance Tax reliefs.
  • Allow the Trustees, in line with your wishes, to either continue the business or to sell it.
  • If you are married or on a civil partnership it provides an opportunity for added value Inheritance Tax planning.

For general informational purposes only, not intended or to be taken as legal advice. To make sure it is appropriate for you please seek advice and contact us.

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The Old Schoolhouse,
75a Jacobs Wells Road,
Clifton, Bristol
BS8 1DJ

Company number: 10721731

 

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