Q. My mother passed away recently and one of the investments we discovered she had taken out was called a “loan trust”? Can you explain what this is? A. A trust is a legal mechanism for looking after assets or money for one or more beneficiaries. These are often used as a way to give… Read more »
Q. I have recently taken out a life assurance policy for the benefit of my partner and our children, and was advised to use a trust arrangement to do so. Can you explain why this is needed? A. A trust is a legal entity whereby the person setting up the trust (the “settlor”), gives property… Read more »
Q. I am in the process of getting divorced. It looks as though we are going to have to sell our house and divide up the equity. My solicitor says I may get less than half of this, however, because I have a Pension in the Civil Service, but my wife, who has not got any… Read more »
Q. I am in receipt of a final salary pension which used all of my Lifetime Allowance when I took benefits two years ago. I also have a retirement annuity policy relating to a period of self-employment in the 1980s. I put very little into it so was pleasantly surprised to find it now has a… Read more »
Q. I have just been awarded a pay increase which takes my salary to £54,000. We have 2 children and my wife gets child benefit for them, which I understand that we will now lose. Is there anything we can do to retain this benefit? A. The High Income Child Benefit Charge was introduced on 7th January… Read more »
