wealth protection
The responsibility and opportunity that comes with your wealth demands careful specialist advice. So place your future in experienced hands. Our specialist teams advise on a range of issues including estate and succession planning, retirement planning and protection.
Having the right cover in place could shield you, your family and your business from unwelcome anxiety and financial pressures in the event of ill health, death or being unable to work. Our protection specialists, working alongside our carefully selected panel of insurers, can help create a package tailored to your needs. Some of the key protection areas to consider are:
- Coping with the death of a loved one
- Financial assistance upon the diagnosis of a critical illness, such as cancer or stroke
- Income replacement if you are unable to work
- Whole of life policies for estate planning purposes
- Financial assistance after the death of a key business colleague or company director
- Ensuring that loans and mortgages can be repaid in the event of death
Whether you are a non-UK domiciled individual living in the UK, considering relocating to or from the UK or you are simply looking to structure your affairs more effectively, we have the expertise to add value to these discussions before you take action.
Our team work will work closely with your professional advisers, Private Banker and Wealth Manager to navigate the complexities of structuring your affairs for the long term.
In our experience many individuals do not consider establishing a trust as part of their wealth planning even though it can be an extremely effective tool. This tends to be for one of two reasons: some individuals feel that settling a trust will be too complex when in reality it can be a relatively straightforward process. Alternatively, many have heard that trusts are only appropriate for passing on extreme wealth but in fact many individuals establish trusts at sums at or below the Inheritance Tax (IHT) threshold (currently £325,000).
There are many reasons why a trust may be suitable. This could be to protect assets, to provide privacy or to ensure the smooth transition of assets to beneficiaries on death and avoid lengthy probate proceedings. Whatever the reason, our trust experts can advise whether a trust is appropriate to meet these objectives and then work closely with your Private Banker or Wealth Manager to ensure that you achieve your aims.
ADVANTAGES OF USING COUTTS
Coutts has over 75 years' experience of establishing and managing trusts that meet the needs of wealthy individuals and families. Continuity in a trust's management is important and so Coutts is often appointed as Trustee.
SERVICES WE PROVIDE
- Establishing the trust including preparing the deed
- Regular meetings with co-trustees to deal with administrative matters
- Making distributions to beneficiaries
- Monitoring investment reports
- Dealing with all administration, accounting and tax reporting
Typical situations where a trust may be appropriate
The value of investments and the income from them can fall as well as rise, and you may not recover the amount of your original investment.
Whatever your wealth level, it makes good financial sense to use all of your tax-free allowances, and Individual Savings Accounts (ISAs) are one of the most popular and straightforward.
There are several different types of ISA, but the simplest to use are the cash ISA and the stocks and shares ISA. Each tax year you can subscribe an amount up to the annual ISA allowance and it will be free of UK tax on interest, dividends and capital gains. Our specialists can talk through your options with you.
Our online investing service, Coutts Invest, is one example of a straightforward way to use your annual ISA allowance. Just log in to your Coutts Online account and you can choose from a range of five multi-asset funds that offer lower to higher risk profiles reflecting the Coutts house view on asset classes and markets.
Important information
- You can only subscribe to one stocks and shares ISA and one cash ISA in each tax year.
- Cash ISA available only for those aged 16 years or over and resident in the UK for tax purposes. Stocks and shares ISA available only for those aged 18 years or over and resident in the UK for tax purposes.
- Coutts Invest is only available for users of Coutts Online aged 18 years or over and resident in the UK for tax purposes.
- Tax-free interest means that interest payable is exempt from UK income tax.
- The above commentary is based on our understanding of current tax law, which is subject to change in the future. The availability and value of any tax reliefs will depend on your individual circumstances and you should obtain tax advice before making any decisions.
Contact Us
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Contact your private banker at any time or call +44 (0)20 7957 2424 for more information.
All calls with Coutts are recorded for training and monitoring purposes.
All calls with Coutts are recorded for training and monitoring purposes.
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