How many trustees are needed?

You’ll need to make sure that the trust always has at least two personal trustees, or one corporate trustee.

Can I remove a trustee?

You can’t remove a trustee. However, if a trustee dies, wants to be discharged, refuses to act, or is no longer capable of being a trustee, you can appoint a new trustee in their place.

Can I appoint more trustees?

Yes, as long as you have no more than four trustees at any one time.

Can I change the beneficiary?

This depends on the type of trust you use. If you use a bare version of this trust, you won’t be able to change the beneficiary. If you choose a discretionary version of this trust, the trustees will decide who benefits, how much they get and when.

Gift trust

Pass on your money in a tax-efficient way

This trust lets you gift your money outright in a tax-efficient way. When you place money in a gift trust, it moves out of your estate after seven years and is exempt from inheritance tax. Any investment growth is outside of your estate from day one. With our Gift Trust, you can also allow payments to be made to your beneficiaries while you’re alive.

Is a Gift trust right for you?

Gift is free from inheritance tax after seven years

Any investment growth is free from inheritance tax

What are the risks?

The value of your investment can go down as well as up and you may get back less than you invest. Tax rules depend on the type of investment and individual circumstances and may change.

This trust could be right for you if:

You want to reduce any inheritance tax after seven years
You want to gift your money outright
You want to allow payments to be made to beneficiaries while you’re alive
You don’t need access to your money

This trust might not be right for you if:

You want to access your money

Products that can be used with this trust

You’ll need one of these products to use with our Gift Trust:

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