4 Theatre St, Norwich NR2 1QY
01603 214 220
Tax Planning and Trust
Our team in Norwich offer a variety of tax-planning services to individuals, families and family-owned businesses on topics including inheritance tax planning, capital gains tax and income tax. This often involves the creation of trusts.
Inheritance tax planning is a specialism at Hatch Brenner. We know that it is increasingly difficult to keep up with the changing tax landscape. Understanding how tax regulations affect your ability to provide for your family and pass your wealth to the next generation can be particularly complex. That’s why we make the process as straightforward as possible. Where appropriate, we work with experts such as accountants and financial advisors to ensure your wishes are carried out.
How we can help with tax planning
To begin, we help you consider your current financial circumstances. It’s important to identify if you have particular concerns that require safeguards (such as impending divorce in the family or potential bankruptcy), along with the tax consequences of your death. After this, we discuss your aims for the future, before considering ways to reduce the tax burden or protect your assets, for example, against payment of care fees.
What’s involved in inheritance tax planning
We look at some or all of the following issues:
- Lifetime gifts either directly to individuals or into a trust
- Gifts within the annual allowances for inheritance tax planning
- The capital gains and inheritance tax consequences of gifting assets
- The use of business property relief (available on certain investments or your business)
- Updating your will to ensure full use of the Nil Rate Band
- Charitable giving to secure a reduced rate of inheritance tax on your estate
If it is considered advantageous to set up a trust, we will consider the appropriate type with you including:
- Bare Trust
- Declaration of Trust
- Life Interest Trust
- Discretionary Trust
- Personal Injury Trust
- Disabled Persons Trust
We will also consider the tax implications of each option.
We then draft the Trust Deed and handle all the formalities, including registration of the trust with the Inland Revenue if required.
Telephone: 01603 214 220
Ongoing management of trusts
We are often appointed as trustees for the ongoing management of trusts. We can deal with all relevant requirements during the lifetime of a trust. This may include the retirement and appointment of new trustees and the appointment of assets out of the trust.
Our expertise
The solicitors in our Norwich-based Wills, Tax & Probate team are full members of the Society for Estate Practitioners (STEP). They have extensive experience with inheritance tax planning, trusts and are ideally placed to provide professional legal advice relating to trusts
Contact us on 01603 214 220 today to discuss your tax-planning needs.
How we
can help you
Protecting your individual interests in the future is important to our wills and probate lawyers. Before creating a strategy to make sure your finances and estate are in order, they will work closely with you to fully understand your goals and concerns.
To find out more about our expertise, please call:
01603 214 220Delivering thought-leading expertise and understanding from our expert solicitors and staff.
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Secure Your Loved Ones’ Future
As life evolves, so should your will. Major life events like the birth of a child, a marriage, or a divorce are all reasons to take another look at your will. We generally advise reviewing your will every five years or after any significant change in your circumstances.
