By putting money in a trust, it no longer belongs to you, so it may not count towards your inheritance tax bill when you die. A trust is a legal arrangement where you give money to someone else to look after for the benefit of a third person. 

A trust can be used for a number of purposes – from providing an income for your children while you maintain control of the capital, to providing an income for your spouse after you die, preserving the capital for your children.

Plan for your future