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. My Parents have recently retired but are contemplating working part time to pay the remaining mortgage off. My Wife and I are in a position to repay this fully to help them out, but how will this affect our inheritance and will we become owners of my parents home? A. You can indeed pay… Read more »
Q. My two children are aged 14 and 10. The younger child received a child trust fund but the older one missed out. We like to treat them equally so invested in a Junior ISA for the elder child a few years ago. I understand that Child Trust Funds have now been stopped, so what… Read more »
Q. I have read that the government intends to review “Deeds of Variation” with regard to inheritance tax. Does this mean I need to review my will? A. A deed of variation is the facility to alter the terms of a will, or possibly the rules of intestacy, up to 2 years after someone dies. This… Read more »
