Skip to main content
All Posts By

Waverton

Trusts & Charities

Flexible Trusts with default beneficiaries

Default beneficiaries set up in the settlor’s lifetime. Flexible Trusts are similar to a fully Discretionary Trust, except that alongside a wide class of potential beneficiaries, there must be at least one named default beneficiary. Flexible Trusts with default beneficiaries set up in the settlor’s lifetime from 22 March 2006 onwards are treated in exactly the same way as Discretionary…
Waverton
August 8, 2022
Trusts & Charities

Bare Trust

Held for the benefit of a specified beneficiary. Bare Trusts are also known as ‘Absolute’ or ‘Fixed Interest Trusts’, and there can be subtle differences. The settlor – the person creating the trust – makes a gift into the trust, which is held for the benefit of a specified beneficiary. If the trust is for more than one beneficiary, each…
Waverton
August 4, 2022
Trusts & Charities

Extending the scope of the trust register

Deadline for non-taxable trust registrations announced. When you put assets in a trust, they are under the control of an appointed person or persons called ‘trustees’. The trustees then manage the trust according to your instructions, even after your death. New rules were introduced on 6 October 2020, as part of the UK’s implementation of the Fifth Money Laundering Directive…
Waverton
August 1, 2022
Family

Passing wealth to the next generation

Making a real difference to the financial position of the recipients. With careful planning it is possible to significantly reduce the need for your estate to pay Inheritance Tax. We spend a lifetime generating wealth and assets but not many of us ensure that it will be passed to the next generation – our children, grandchildren, nieces, nephews, and so…
Waverton
July 25, 2022
Business & Employment

Planning a career break

Modern day careers are far more fragmented than previous generations'. People move jobs more frequently and taking career breaks to pursue out of work interests are also becoming more commonplace. But what does this mean for your pension and long-term finances? Your final pension pot may end up lower as a result of a career break, but it is still…
Waverton
July 21, 2022
Estate & Tax

Leaving your legacy behind

Considerations when making a Will. Thinking about death isn't easy. Talking about it is even harder. The reality of our own mortality is a tough subject, but a discussion will ensure your assets are left to the right people. If you want to be sure your wishes are met after you die, then it’s important to have a Will. A…
Waverton
July 21, 2022
Estate & Tax

Making a Will

Distributing financial wealth or possessions in an orderly fashion. A valid Will is an incredibly important part of estate preservation planning and will ensure that should the worst happen, your assets, whether they be financial wealth or possessions, are distributed in an orderly fashion to the right beneficiaries. It’s important to make sure that after your death, your assets and…
Waverton
July 18, 2022
Estate & Tax

Lifetime transfers

Remember the seven-year rule. An outright gift falls into one of two categories, depending on the type of gift and to whom it’s made. These categories are Potentially Exempt Transfers (PETs) and Chargeable Lifetime Transfers (CLTs). Inheritance Tax exemptions can be achieved by means of making certain exempt transfers, which apply in a number of cases including wedding gifts, life…
Waverton
July 11, 2022
Estate & Tax

Inheritance Tax Residence Nil-Rate Band

Owning a residence which you leave to direct descendants. The introduction of the ‘residence nil-rate band’ (RNRB) has made it easier for some individuals to pass on the family home. The rise in property prices throughout the UK means that even those with modest assets may exceed the £325,000 ‘nil-rate band’ (NRB) for Inheritance Tax. On 6 April 2017, the…
Waverton
July 7, 2022
Family

Preserving your family’s wealth

Achieving the right balance of control, access, flexibility and tax advantages. Inheritance Tax is a tax on an estate (the property, money and possessions) of someone who’s died. Intergenerational planning helps you put financial measures in place to benefit your children later in life, and even your future grandchildren, but it’s important to start planning early. You may want to…
Waverton
July 4, 2022

You are now leaving Waverton Wealth

Waverton Wealth provides links to websites of other organizations in order to provide visitors with certain information. A link does not constitute an endorsement of content, viewpoint, policies, products or services of that website. Once you link to another website not maintained by Waverton Wealth, you are subject to the terms and conditions of that web site, including but not limited to its privacy policy.

You will be redirected to

Click the link above to continue or CANCEL