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Martin’s legacy

For Martin, the implementation of a Trust was essentially the answer to all his financial problems. Martin knew about the use of Trusts but with Discretionary Trusts, Life Interest Trusts, Absolute Trusts, Wealth Preservation Trusts and Accumulation Trusts all seeming to be an option to him he was, understandably, unsure of where to begin.

Martin’s main objective was to leave a ‘nest egg’ to his daughter and expressed that he wanted to make sure he was doing the right thing by considering a trust. 

The use of the correct trust within the right circumstances can benefit our clients in many ways. Trusts help with tax planning, gifting, gifting whilst retaining control of the asset and control of when the beneficiaries can gain access.

Once Martin had helped contribute towards his daughter’s wedding he set up a Wealth Preservation Trust for his daughter enabling him to still have flexible access to payments from the trust should he require it, particularly useful as he has his first grandchild on the way!