Trustee Services

Types of Trust

The Universal Trust Corporation has significant expertise in the following types of Trust:

• Discretionary Will Trusts – highly effective Inheritance Tax mitigation vehicles that enable married couples to take advantage of the maximum Inheritance Tax savings available and save over £100,000 from going to the taxman*.
  
  Each Will contains legal wording allowing for the establishment of a Trust (up to the value of the current ‘Nil Rate Band') on first death.
  
  The Trustees are given the power to accept an IOU (or loan note) based upon the value of a broad range of qualifying assets, giving significant flexibility to the surviving spouse. They can benefit from those assets (usually the house) which are managed and controlled by the Trustees, until second death when the Trust can be distributed to other beneficiaries.
  
  To remain compliant in the eyes of the Capital Tax Offices, Nil Rate Band Trusts like this require careful management. We always advise clients to appoint a professional Trustee to ensure the required administration is carried out, records are maintained and Trustee meetings occur.
  
  
• Accumulation and Maintenance – similar in function to the Discretionary Will Trust, this type of Trust allows funds to be held and released at a certain time, subject to set criteria. It is commonly used by grandparents to benefit their grandchildren.
  
  
• Interest in possession – a nominated beneficiary has an interest in the assets of the Trust, either for life or for a designated period of time. After this the capital would normally pass to other beneficiaries.

Whatever the nature of your particular Trust, once the terms and ultimate aims are established and agreed, The Universal Trust Corporation will ensure that your instructions are carried out efficiently and objectively. We are completely unbiased towards any of the beneficiaries and impartial in any decisions we might make on behalf of the Trust.