What should I ask before buying a trust?

Questions worth putting in writing

A good adviser should answer clearly before you commit.

• What precise problem does this solve?
• What happens if I do nothing?
• Is there a simpler alternative?
• Do I lose access or control?
• Which taxes could arise?
• Who handles Trust Registration Service work?
• Who owns the IHT100 and IHT100d calculations and deadlines?
• What is the full cost now and later?
• Who gives the legal and tax advice?
• What regulation and insurance apply?
• What if trustees disagree or need replacing?

Claims that need particular care

Be cautious with guaranteed tax savings, one-size-fits-all trusts, artificial deadlines and promises to make a home unavailable for care assessment. The effect depends on the deed, the asset, any continuing benefit and the surrounding facts.

Administration continues after signing

Some relevant-property trusts can face Inheritance Tax reporting and calculations at ten-year anniversaries. HMRC updated IHT100d and its guidance on 2 September 2026. Ask who will monitor the current forms, calculate any charge, keep records, meet deadlines and pay the professional costs. This form update did not itself announce a new tax threshold.

Independent advice matters

For a substantial lifetime trust or complex will trust, the person advising on legal and tax consequences should have the right expertise and professional indemnity cover. Ask about commission and any benefit from trustee, storage or administration appointments.