Inheritance tax is a levy on the estate of a person who has passed away. It encompasses everything they own, including property, money, and possessions. The purpose of this tax is to redistribute a portion of the deceased’s wealth back to the government....
When planning your estate, you may come across various types of wills and trusts designed to protect your assets and ensure they are distributed according to your wishes. One such arrangement is a life interest trust will. This type of trust can be particularly useful...
Before we dive into Protective Trusts, let’s take a moment to understand what trusts are and their role in estate planning. Simply put, a trust is a legal arrangement where one party (the settlor) transfers assets to another party (the trustee) to hold and...
Like other trusts, a Flexible Interest in Possession Trust (FIPT) holds and manages assets for the benefit of designated beneficiaries. However, what sets it apart is its unique flexibility in asset distribution and beneficiary entitlements. The key purpose of an FIPT...
As the owner of a small or medium-sized business, you already know how important it is to protect your company against potential risks. You insure your business assets against damage, fire, and theft; you take out a public liability policy to cover you should a...
