Can I put money in trust to avoid Inheritance tax (IHT)?
You can use a trust to pass assets on to others,for example to those who aren't immediately able to look after their own affairs, such as your children.
Gifts into a trust may still be subject to Inheritance Tax if your estate, including the amount being transferred, is over the Inheritance Tax threshold
There are various trust based options including hybrid solutions with the most common being:-
- bare trusts.
- interest in possession trusts.
- discretionary trusts.
- accumulation trusts.
- mixed trusts.
- settlor-interested trusts.
- non-resident trusts.