Why Set Up a Lifetime Trust

[@darrenelkins5923]

Charles, after watching many of your very informative youtube tutorials, I recently sent you a few questions via your website contact. You were very kind in answering those questions very quickly and via a personal video message. Moreover, you made no sales pitch. You simply gave me some quick personal advice based on the scant details i sent. We have met with a local estate planning specialist, and i must say that your videos are more clearly explained than the answers we received to the questions we posed at that physical meeting. If i ever get into a position where i need to protect a larger estate, i will not hesitate to knock on your door. For now, I have passed your youtube tutorials over to a few friends. Many thanks

[@Inheritancetaxadvice]

Hi Darren - Firstly thanks for your kind comments. Really glad we are able to help you - I fully appreciate the whole area of IHT planning is difficult to understand in that so few people are just willing to help without payment or simply just put sufficient detailed information out there. Hopefully this KZbin channel goes a little way to resolve that issue.

[@annwestcott3752]

I’m interested in lifetime trusts and will trusts but for vastly different reasons than you. Like many people with disabled children I need to look at how to best support them after I am gone.

[@Inheritancetaxadvice]

Hi Ann - Disbabled persons trusts do have some income tax advantages but ususally we prefer discretionary trusts - sned me an email and I will explain why

[@annwestcott3752]

@@Inheritancetaxadvice thank you. I will do that. I think I've been taken down the wrong path because I mentioned disabilities to the person writing my will.

[@Inheritancetaxadvice]

@@annwestcott3752 If you want to book a free meeting on our website and we can chat it through

[@sssfff]

Hi, can you use the residence nil rate band every 7 years even though you don't have a trust?

[@Inheritancetaxadvice]

If you dont have a trust and make a gift directly then it is a Potentially exempt transfer and you can do those anytime but if you die within 7 years of the gifty it will fall back into the estate

[@lqzls]

why did you say 2 million, the threshold for inheritance tax in the US?

[@Inheritancetaxadvice]

All of our videos are only relevant to the UK