Trusts no longer have to be exclusively for the high net worth individual, with complex trust and tax saving structures bound with exorbitant fees. Markets and customer needs are more demanding than ever, striving for better service and lower costs.

You should seriously consider the use of a trust if you are concerned about the protection of your assets from financial, fiscal or political risk.

A trust is one of the most secure and flexible financial planning vehicles available, particularly when established offshore. Subject to the tax laws applicable to the settlor’s estate, a trust may enable a settlor to make long term plans for the preservation or distribution of wealth during or after their lifetime in precisely the manner required.

When using trusts for tax purposes, settlors must consider the tax rules that apply to themselves, the beneficiaries and also the assets. Care must also be taken to consider the implications of transferring assets into the trust and how payments to the beneficiaries will ultimately be treated.

A trust may also be an effective tax-planning tool, for example in respect of estate or inheritance taxes on assets situated outside the country of the settlor’s nationality.

By establishing certain types of trusts, individuals may remove assets from their estate thus reducing their taxable wealth, limiting exposure to income tax, capital gains tax, gift tax and inheritance tax.

AMASS has a number of Offshore Trust companies we can recommend and if you would like to discuss this matter further please complete the enquiry form.