Birmingham Lake

"Wealth is not his that has it, but his that enjoys it"

-Benjamin Franklin

Traveling in the Alps

"Wealth consists not in having great possessions, but in having few wants"


Traveling in Crete

"Time is the most valuable thing a man can spend"

- Laertius Diogenes

Morris Dancing Birmingham

"The glow of one warm thought is to be worth than money."

-Thomas Jefferson

Alan Moran Independent Financial Adviser Birmingham

"I don't care too much for money for money can't buy me love"

- The Beatles

Traveling in the Red Sea

"Simple, genuine goodness is the best capital to found the business of this life upon. It lasts when fame and money fail, and it is the only riches we can take out this world with us."

-Louisa May Alcott, Little Men

cliffs of dover

"And though I have the gift of prophecy, and understand all mysteries, and all knowledge, and though I have all faith, so that I could remove mountains, and have not charity, I am nothing."

-St. Paul

Finance in the Big City

"Not he who has much is rich but he who gives much"

-Erich Fromm

Birmingham UK Sunset

"Life is what happens to you while you are busy making other plans"

-John Lennon

Travels - A well lived life

"I pity that man who wants a coat so cheap that the man or woman who produces the cloth shall starve in the process"

-Benjamin Harrison

A Guide to Wealth Protection: Trusts

The Use of Trusts

How trusts can support and protect wealth from Care Fees, IHT, other taxes, divorce and bankruptcy, probate costs and delays and ensure money goes where you want it to go. Trusts are the cornerstone of many financial planning requirements. So why don’t more people use trusts?

There appear to be reasons which include:

  • Trusts are considered to be only relevant for wealthy people
  • Trusts are solely there to avoid tax
  • They are complex
  • They are expensive
Family protecting trusts

Each of these statements are misconceptions. In the main, trusts are simple, with any cosmetic complexity easily dealt with by a specialist. Trusts are as much, if not more, about directing where, when and how monies are paid, rather than avoiding tax. Yes, they can be used for tax efficiency and should be wherever possible, but this is far from their only function. They can be put in place easily and as such - in many cases - are not expensive – indeed they often help save money either through wealth protection, tax reduction or through other efficiencies.

Trusts vary considerably in their type and the rules which apply

Different types of trust will have different rules applying to them around who can set one up, when, how they long they last, what the trustees can do (i.e. “their powers”), who the beneficiaries are, what, when and how changes can be made, how they are wound up, what income can or cannot be paid out (and to whom), the tax treatment in and around the trust and what happens on death.


There are many names applying to different trust types

All of this is largely irrelevant to you, the reader, because you can adopt the basic principle of wanting to use trusts and leave the finer points to a competent financial planner to sort. The nitty gritty of how this is done is something they can take care of, just as many people leave their bookkeeping to a bookkeeper. The essence of using trusts is about wrapping assets into a controlled area. In this way wealth can be protected. An example would be where an individual or family wishes to keep their assets within their own bloodline.

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Interface Financial Planning started providing independent financial advice in 1992. From the beginning it had the aim of providing professional advice and quality service to people with modest income and wealth. Its key value was putting people before profit, and contribution before reward. This mission statement has been our torch to light the path ahead and has been the reason that we have endured for over 24 years. Alan has lead the company with his personal values of: Integrity, Compassion, Respect, & Loyalty, and he is proud that over the years he has worked with clients who share similar values. Like him they want to help others and make the world a little better. Contact us.

Readers should not rely on, or take any action or steps, based on anything written in these guides without first taking appropriate advice. Interface Financial Planning Ltd cannot be held responsible for any decisions based on the wording in these guides where such advice has not been sought or taken.

The information contained in these guides is based on legislation as of the date of preparation and this may be subject to change. We will aim to keep them up to date but inevitably there may be a time delay so current legislation should always be checked.

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