April Spotlight!
🍁Trusts Are Not a Magic Bullet – A Maple Wills Guide🍁:
At Maple Wills, we regularly speak with clients who have been told that trusts are the answer to inheritance tax and protecting family assets. It’s an appealing idea—simple, effective, and widely promoted online. But the reality is more perceptive:
🌿 Trusts: A Valuable Tool, Not a Quick Fix
Trusts can be a powerful part of estate planning. They allow you to control how your assets are passed on and can provide protection for your loved ones.
However, they are not suitable for everyone. Used incorrectly, trusts can introduce unnecessary complexity and cost.
💸 The Truth About Tax
One of the biggest misconceptions is that trusts automatically reduce inheritance tax.
In reality, some trusts can trigger immediate tax charges, particularly when assets exceed certain thresholds. There may also be ongoing costs and administrative responsibilities to consider.
In some cases, a trust can result in more tax being paid overall, rather than less.
🏡 Putting Your Home into a Trust
This is one of the most common questions we’re asked.
While it is possible to place your home into a trust, continuing to live in it can mean it is still treated as part of your estate for inheritance tax purposes.
Avoiding this often requires paying full market rent—something that is not always practical.
⚠️ Why Personalised Advice Matters
Trusts are often presented as simple, “off-the-shelf” solutions—but they are anything but.
Without the right advice, you may face:
Every family is different, which is why estate planning should always be tailored to your circumstances.
✅ When Trusts Can Work Well
Trusts can be highly effective when used correctly, such as:
Providing for young or vulnerable beneficiaries
Protecting assets across generations
Supporting more complex family arrangements
The key is ensuring the trust is set up for the right reasons, in the right way.
🍁 The Maple Wills Approach 🍁
At Maple Wills, we believe in clear, honest advice—not one-size-fits-all solutions.
We take the time to understand your situation and guide you towards the approach that genuinely works for you.
If you’re considering a trust or reviewing your estate plan, Maple Wills is here to help you make informed, confident decisions.
Call us today 01908 478988