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Trust Funds Are Not Just For The Rich and Famous
Description
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Trust funds separate ownership from control and can help protect young or special-needs beneficiaries, keep assets managed responsibly, and support inheritance-tax planning.
The episode compares fixed trusts with discretionary trusts, explains will trusts, and highlights key insights, like capital gains tax on lifetime transfers, CGT uplift on death, and how transferring a home may avoid CGT and affect “Fair Deal” planning.
00:00 Trust Funds Explained
00:52 Why Use a Trust
01:47 Fixed Trust Basics
02:58 Special Needs Planning
05:29 Fixed Trust Tax Perks
06:21 Discretionary Trust
08:09 Trustee Incentives Warning
09:29 Discretion Benefits
10:18 Will Trusts
12:09 Cautions and Tax Traps
13:11 Home Transfers and Fair Deal
14:36 Final Takeaways
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