Are trusts still worth setting up?

The trust industry dates back to the early 19th century and requires a professional and thoughtful approach for these complex vehicles to be valid and useful. But have the original intentions of trusts become lost in the mists of time? Are they still fit for purpose in the modern day? Over a 30-minute discussion, with time set aside for Q&A, we will look to cover the basics of a trust and the benefits these vehicles bring to families looking to preserve their wealth over generations, as well as provide scenarios where there are practical applications for trusts. We will also seek to flag what other wealth structures are available – depending on the individual circumstances and financial needs – which may be more suitable for private clients. Nedgroup Trust’s Mary Humphreys, a senior trust manager, and Marcus Prevel, a director, will also go through the typical process a client experiences when seeking to set up a trust. This includes what concerns they might raise and how the team aims to use their experience to alleviate any apprehensions, while highlighting the long-term, and sometimes unforeseen, advantages of wealth structuring.