TRUSTS, EXECUTORSHIPS & WEALTH PROTECTION

You can trust us to help protect the wealth of you and your family, now and in the future.

PLANNING FOR THE FUTURE

It’s never nice to think of a time when we will no longer be here, but it’s vital that we do in order to make sure our loved ones are looked after. Part of efficient tax planning means looking ahead to the future and optimising your wealth on behalf or your family and future generations. Just remember, it is never too early to plan. The earlier you start the more opportunities you will have.

When it comes to executorships and dealing with the financial affairs of the deceased, who is better to deal with everything than their accountants? We are on hand to provide a swift, cost-effective service for both new and existing clients.

Helpful Information

Below is some helpful information on trusts, executorships and wealth protection. Simply click each option to find out more.

If you are considering setting aside assets for specific future beneficiaries, trusts can be a tax efficient way to ring fence these assets outside the scope of current Inheritance Tax legislation. Trusts should also be considered when reviewing your business tax planning.

As well as helping to pass assets through different generations of families, trusts can also help families to:

  • Retain control over gifted assets
  • Provide for children and vulnerable beneficiaries
  • Protect assets, including restricting access by future beneficiaries to property
  • Make gifts to charities

The main types of trust are:

  • bare trusts
  • interest in possession trusts
  • discretionary trusts
  • accumulation trusts
  • mixed trusts
  • settlor-interested trusts
  • non-resident trusts

Whilst these might seem confusing, the main points to note are that:

  • each type of trust has different merits and implications and,
  • all have different tax implications.

At SKS, we can:

  • advise you on the most appropriate type of trust for your situation,
  • advise you on the implications of each trust type, and;
  • which are the most suitable for your needs.  This includes advice on Capital Gains Tax (CGT) and Inheritance Tax (IHT) implications.

Our services include:

  • Setting up and registering your trust with HMRC
  • Completion of trusts accounts
  • Completing of tax returns
  • Providing distribution advice to your beneficiaries
  • Assistance with the winding up or closing of trusts
  • We can also act as a Professional Trustee to help remove this responsibility from your loved ones and to ensure you remain compliant

We can also offer assistance regarding IHT returns and applications for Probate.

There can be tax-planning considerations when preparing your Will and we can advise you about these as required. In many cases, we act as trustees or executors.

We can assist with:

  • Collating estate assets and liabilities
  • Preparing IHT and probate forms and payment of IHT
  • Claiming of various reliefs including APR and BPR
  • Conversion of assets into cash and payment of liabilities
  • Preparation of estate accounts
  • Distribution of estate to beneficiaries

FIND YOUR LOCAL OFFICE

We have offices all over the UK. Click below to find yours.

Testimonials

“Very well organised and knowledgeable regarding our property letting business. I have already recommended friends to SKS Bailey and will continue to do so because in this business one size hat doesn’t fit all and a bespoke model can be adopted when consulted. Excellent.”
Mark Alldersea
Mark AllderseaHousing Freedom/ Alldersea Building Contracts
“The service provided by the SKS Bailey Group I have always found to be professional, efficient and friendly. They respond to my questions very promptly and thoroughly, and often go above and beyond in the level of service they provide to their clients.”
Carl Forman
Carl FormanFor-Ward Planning Consultancy Limited
“SKS Bailey Group provide wide ranging knowledge and expertise on all matters concerning tax, property and succession planning. I would highly recommend their service.”
Claire Payne
Claire PayneMaximum Property LLP
“Brilliant professional service delivered by friendly helpful staff, I would and will highly recommend to friends and colleagues.”
David Ede
David EdeBlackhall RAFA Association treasurer
“I have used SKS Bailey for many years now for my business accounts, payroll, and personal taxation. I have always been satisfied with their service and wouldn't hesitate to recommend them.”
Christopher Watson
Christopher WatsonExecutive Mortgage Solutions
“SKS Bailey Group have always provided a very good and efficient service for our business always there when we need them and we are very Happy working with them.”
Philip Walsh
Philip WalshPhilip & Martin Walsh
“SKS Bailey Group provide a very professional service very efficiently and the staff are very pleasant to deal with.”
Stephen Barley
Stephen BarleyMechelec Associates
“We have worked with the Bailey Group for a number of years with our group of companies. They really understand our tax planning needs, true property experts and very much helped with our relocation to Monaco. Highly recommended.”
Paul Smith
Paul SmithTouchstone Education
“Stapleton consultants , have pleasure in giving testament to SKS Bailey Group in providing services that are essential to allow the business to run smoothly, knowing the financial accounts are in safe hands.”
John Palmer
John PalmerStapleton Consultants Ltd
“High quality, long lasting service, always very pleased. Above and beyond what is required.”
Stephen Grigg
Stephen GriggScunthorpe
“They provide excellent service, are friendly very professional and make me as a customer feel valued.”
Margaret Eadsforth
Margaret EadsforthPrivate Client
“SKS Bailey have a strong insight into property tax matters and capital allowances. They are very knowledgable.”
Paul Smith
Paul SmithBurnden Park Ltd/LLP
“My wife and I have been using the services of SKS Bailey Group and its previous company for 5 years. We have been delighted with their service and reliability, particularly their accountancy department and associated services.”
Richard Blass
Richard BlassBlass Family Partnership LLP
"All the staff i've dealt with have exceeded expectation. Always dealt with enquiries etc on the day and never had any problems contacting the person i've needed to speak to. Great service!"
Neil Mackechnie
Neil MackechnieWingate Farm Services Limited
"As a total novice to self employment Bailey Group provided the support and confidence essential to making the right decisions and financial judgements."
Brian Chape
Brian ChapeChape Support Services
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