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Providing for Children or Grandchildren

We regularly advise clients on the steps to take to pass down assets to following generations both by will and by lifetime gifts.

We advise on alternative ways of supporting children and grandchildren - e.g. setting up trusts, making regular gifts from income, giving loans and mortgages.

We advise on the use of trusts to hold assets for children and grandchildren and the tax consequences of the trusts. We advise on and draft trusts for children and grandchildren, including accumulation and maintenance trusts and bare trusts.

We advise on the income tax, capital gains tax and inheritance tax consequences of lifetime gifts and the establishment of lifetime trusts for children and grandchildren, particularly in the light of the new inheritance tax rules for trusts introduced by the Finance Act 2006.