Simon had a share portfolio which he wanted to liquidate in order to pay the increasing medical expenses required to look after his disabled son Josh. The issue was the shares had increased substantially in value. By simply selling his share portfolio Simon would have incurred a significant Capital Gains Tax liability which would have reduced the money available to care for his son. Creating a Special Disability Trust and transferring the share portfolio to it Simon was able to minimise tax and maximise the money available to care for his son Josh.
Disclaimer and Warning
The information above is of a general nature only. It should not be used as a source to make financial decisions. It’s also important to note that the legislation and figures related to this topic tend to change regularly and therefore the information above may not reflect the current status. We recommend that if you are looking for advice on this matter, you should contact us.