Article Abstract:
United Kingdom charity trustees have the same types of constraints and duties, though the charities themselves are diverse. Occupational pensions and occupational health legislation apply to charities, and trustees have to ensure that yields are adequate from the charity's investments. Trustees carry the burden of personal liability. The quality of trustees is likely to suffer as their duties and responsibilities become more onerous, yet they pay does not reflect this.
User Contributions:
Comment about this article or add new information about this topic:
Article Abstract:
Parents and grandparents seeking to invest for children may be concerned with allowing their children access to these funds. Trusts can give UK investors some tax advantages in terms of capital gains tax, income tax, and inheritance tax. Lawyers, tax advisers and unit trust managers can help investors set up trusts. Some trusts are simple, while others involve complicated legal procedures, and thus can be expensive to set up due to the high cost of lawyers' fees.
User Contributions:
Comment about this article or add new information about this topic:
Article Abstract:
Trusts tend to be thought of as useful only for the very rich, yet they also offer tax planning benefits for people with modest means. Trusts can be used by married couples with assets above the rate at which inheritance tax is paid. Assets can bypass a survivor's estate so no inheritance tax is payable. Death benefits from a personal pension can be written under trust, and capital can be lent to a trust and be repayable on demand to prevent capital accumulation.
User Contributions:
Comment about this article or add new information about this topic: