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The phrase “trust fund baby” is often used casually—but it masks one of the most misunderstood realities in estate and fiduciary planning: the person who gives the money often does not control it, and the person who benefits from it rarely does either. At the center of this misunderstanding is the Gift Trust. For fiduciaries, advisors, and families alike, understanding who actually controls a Gift Trust—and why that structure exists—is essential. This article explains how Gi

Offshore trust services are often marketed as a powerful way to protect assets from lawsuits, creditors, and future uncertainty. For high-net-worth individuals, business owners, and globally mobile families, the idea of placing assets in a foreign jurisdiction with strong trust laws can sound appealing. But are offshore trusts actually effective for asset protection — or are they misunderstood, misused, or oversold? What Is an Offshore Trust? An offshore trust (also called a

Trustees and their advisors are facing a crucial compliance deadline: 31 December 2025. In a recent announcement, HM Revenue & Customs (HMRC) confirmed it will not extend this year’s deadline for certain trusts to register under new reporting obligations — but it will consider waiving penalties in limited circumstances. New Compliance Requirements for Trustee-Documented Trusts The deadline relates to a new registration obligation introduced in 2025 under amendments to the au

A recent decision by the UK First-tier Tax Tribunal (FTT) has provided important clarity on how income tax rebates owed at the time of death are treated for inheritance tax (IHT) purposes—an issue that trustees, executors, and professional advisers often grapple with in estate administration. Background: The Thomas v HMRC Case In Thomas v HMRC (2025 UKFTT 1537 TC), the tribunal considered whether income tax rebates that had not yet been paid to a taxpayer before their death