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Cumberland and Westmorland Herald
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    Turning 75: the impact on tax-free cash, pension tax relief and death benefits

    Turning 75: the impact on tax-free cash, pension tax relief and death benefits

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    Appleby Horse Fair 2025: ‘Extensive’ police measures in place

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    Man exposes himself near Penrith car park

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    £7m for two major Penrith projects

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    Appleby flood scheme work to pause for town’s horse fair

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    Man arrested after police drugs raid in Penrith

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    Man fined after abandoning car at Penrith Railway Station for several weeks

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    Appleby Show team rallies round as treasured event under threat

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    Big splash as Lazonby Pool reopens after revamp

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    Penrith Panthers celebrate winning season

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    Darren Edmondson leaves Penrith AFC

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    Lucy plays key role in county T20 triumph

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    Gold for Keith in annual festival of orienteering

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    Cumberland and Westmorland wrestlers head to European championships

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    Kirkby Stephen Hockey Club win league title

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    Dedicated Eden football volunteer wins major award

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    10-year-old footballer Casper Ostrowski snapped up by Morecambe

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Cumberland and Westmorland Herald
  • News
    Turning 75: the impact on tax-free cash, pension tax relief and death benefits

    Turning 75: the impact on tax-free cash, pension tax relief and death benefits

    Appleby Horse Fair 2025: ‘Extensive’ police measures in place

    Appleby Horse Fair 2025: ‘Extensive’ police measures in place

    Man exposes himself near Penrith car park

    Man exposes himself near Penrith car park

    £7m for two major Penrith projects

    £7m for two major Penrith projects

    Appleby flood scheme work to pause for town’s horse fair

    Appleby flood scheme work to pause for town’s horse fair

    Man arrested after police drugs raid in Penrith

    Man arrested after police drugs raid in Penrith

    Man fined after abandoning car at Penrith Railway Station for several weeks

    Man fined after abandoning car at Penrith Railway Station for several weeks

    Appleby Show team rallies round as treasured event under threat

    Appleby Show team rallies round as treasured event under threat

    Big splash as Lazonby Pool reopens after revamp

    Big splash as Lazonby Pool reopens after revamp

  • Sport
    New boss revealed for Penrith AFC

    New boss revealed for Penrith AFC

    Penrith Panthers celebrate winning season

    Penrith Panthers celebrate winning season

    Darren Edmondson leaves Penrith AFC

    Darren Edmondson leaves Penrith AFC

    Lucy plays key role in county T20 triumph

    Lucy plays key role in county T20 triumph

    Gold for Keith in annual festival of orienteering

    Gold for Keith in annual festival of orienteering

    Cumberland and Westmorland wrestlers head to European championships

    Cumberland and Westmorland wrestlers head to European championships

    Kirkby Stephen Hockey Club win league title

    Kirkby Stephen Hockey Club win league title

    Dedicated Eden football volunteer wins major award

    Dedicated Eden football volunteer wins major award

    10-year-old footballer Casper Ostrowski snapped up by Morecambe

    10-year-old footballer Casper Ostrowski snapped up by Morecambe

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Home Sponsored
This article appears as part of a paid partnership with Burnetts

Has the bank of mum and dad been called upon again? Now is the time to take some ‘trust’ worthy advice

by CWH
25 March 2021
in Sponsored
A A
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Since the beginning of the coronavirus pandemic, the financial position for many has become increasingly difficult.

Understandably, this has resulted in family members needing support – enter the bank of mum and dad.

A recent report by SAGA notes that 21 per cent of over-50s with children over the age of 18 have increased the level of financial support they have had to provide since the start of the pandemic.

Did those families know the process might have more effectively been achieved if they had taken time to consider investing in a trust?

Whilst trusts were once considered only for the wealthy and landed, they are an incredibly useful tool in enabling families to support one another.

Many of us need to consider the costs involved for our nearest and dearest to go to university, to purchase a property or to invest in a business.

Trusts can be an excellent vehicle to protect family assets and inherited wealth for the next generation.

When used appropriately, they may also be used to help mitigate inheritance tax.

If set up in the correct way, trusts can be very useful for families from any background to protect family assets and handle finances for the future.

They can then be effective and managed easily in the long term, proving to be a valuable instrument to meet the various needs of each family.

In many ways, trusts are an integral part of the legal system in England and Wales.

They are certainly not something to be feared, but with careful and considered advice, we at Burnetts can help you to manage your family wealth for your family needs.

We all want to know that the bank of mum and dad will be there for generations to come.

If you would like to know more about setting up a trust, please contact us and a member of our trusts team will be happy to assist.

Contact Emma Baker on 01768 800855 or Rachael Stephenson on 01228 552222 for more information.

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