Trusts are used by high net worth individuals (HNWI) for multiple purposes. From reducing future inheritance tax liabilities to ensuring funds are available for future needs, such as the maintenance of young children. Trusts help these individuals to manage their wealth and can facilitate estate and inheritance planning. It is important for wealth managers to understand how each type of trust functions and what unique benefits it provides to their clients.
Key learning objectives:
Understand the key differences between the four main types of trusts discussed in this video
Understand why wealth management clients use trusts