Inheritance tax: Grandparents urged to ‘cut your bill’ as revenue rises | Personal finance | Finance

Ms Durrant said: “Trusts provide an effective vehicle for tax planning while protecting the cash or assets of beneficiaries.

“Grandparents, as settlors, can be trustees, so retain control over how assets are managed and spent and the trust can benefit children, grandchildren and other family members as they wish. hear.

“Up to £325,000 per settlor (£650,000 for a couple) can be placed in trust in the form of cash or assets such as property or a portfolio of shares with little tax consequences. The asset falls out of the settlor’s estate after seven years.

“It’s a great way to help their children with the cost of a young family, as distributions can be made to help with expenses as the family grows.”

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