With over half of all marriages ending in divorce, it is statistically very likely that there will be a divorce in two generations of any given family.

So, if divorce is potentially on the horizon how do clients, contemplating intergenerational succession planning, accommodate this possible risk?

Having a trust in 2021 is nothing like having a trust just three years ago. Laws affecting trusts have changed significantly and so have the costs of having a trust due to the new duties imposed on the trustees.

A ‘hardening of the rules’ brought about by the new legislation is seeing some people who have settled trusts grappling with the implications of having lost direct control of their assets.