SIVENSON ESTATE

SIVENSON ESTATE

SIVENSON ESTATE

Chartered Certified Accountant

Tax Return of Trusts for UK based individuals & partners

WHY ARE TRUSTS USED?

1. To control and protect family assets.

2. When someone is too young to handle their affairs.

3. When someone cannot handle their affairs because they are incapacitated.

4. To pass on assets while you are still alive.

5. To pass on assets when you die (a ‘will trust’).

6. Under the rules of inheritance if someone dies without a will (in England and Wales).

WHAT IS ESTATE ?

1. It is the "NET VALUE" of a person assets & credits (or creditors/liabilities).

2. ASSETS: Money-Properties-Vehicles-Shares-Life Insurance-Pensions

3. CREDITS: Mortgage-Loans-Bills-Taxes

4. Estate Above £15,000: Need Probate

5. An Executor is appointed in a Will, to deal with an Estate & use Grant of Probate

6.An administrator deals with an estate if there isn't a Will (or if there is a Will but the executor is unable or unwilling to act)

Tax Returns of Trusts for foreigners & non-individuals (trade & charities)