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Trusts are a particular
speciality of the practice.
Trusts and Settlements
To implement tax planning advice lifetime settlements of any kind
can be set up. Advice can be given in connection with the use of trusts
of life insurance policies. We are often asked to give a second opinion
on schemes produced by insurance companies and insurance brokers.
Off-shore Trusts
We have considerable experience in dealing with interests in offshore
trusts, both in setting them up in liaison with advisers in other
jurisdictions and also on dealing with existing off-shore trusts and
how to extract property from them tax efficiently.
Another area of expertise is advising on company mergers and acquisitions
where shareholdings are held in offshore trusts.
We are familiar with the use of other offshore entities such as guarantee
companies, anstalts and stiftungs.
Asset Protection Trusts
Advice can be given to professional and business people on the extent
to which they can protect their assets against potential claims by
the use of Asset Protection Trusts both UK based and offshore.
Trust Administration
Having created a settlement the continuing administration can be
handled. Accounts for all types of trust including charities, trusts
for mentally handicapped children and will trusts can be prepared.
All tax issues in connection with trusts and charities can be dealt
with.
Self-assessment has now been introduced for trustees as well as
individuals and penalties are payable for late and incorrect returns.
Trust administration is becoming an increasingly complex task with
beneficiaries demanding a far higher standard of administration
from trustees. This requires special expertise, which is now only
available in very few firms in the North West.
As the task of lay trustees becomes more onerous, David Bishop
is happy to take on trusteeships.
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| Pre Budget Report 2007 |
| Changes to Inheritance Tax for married couples and civil partners |
| More Info |
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| Nil Rate Band Discretionary Trust Wills after the Finance Act 2006 |
| The effect of the Budget changes to trusts as enacted in the Finance Act 2006 on nil rate band discretionary trust wills |
| More Info |
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