By putting the land in trust now, given the debt that was attaching to the land, the landowner was able to move the assets outside of his estate in a tax-efficient manner.
David set up the trust to hold the land.
David’s client said that he felt the matter was handled in a very professional, clear and concise fashion. He also noted that David was able to provide clear advice without the use of legal jargon.
David said: “In cases like this, particularly with development land, putting the assets into trust can be tax-efficient. The key is undertaking the transaction at the right time and taking advice at an early stage is advisable”