Turcan Connell has launched the Turcan Connell Educational Fund designed expressly to help parents and grandparents manage the rising cost of educating future generations.
Structured as a trust, it provides a fully managed framework which allows a gift, or series of gifts, to be made in a tax-effective manner for the long-term funding of university education in particular. It is suitable for those who wish to set aside capital for the specific objective of funding education whilst at the same time reducing their Inheritance Tax liabilities. Turcan Connell is particularly well placed to offer this type of investment due to the ‘joined up’ nature of its services which encompass asset management, legal and tax advice.
The Turcan Connell Educational Fund is established through the use of a Trust Deed which appoints Trustees. The Trust Deed is flexible and the principal beneficiaries can be children and/or grandchildren or other named individuals. The gifts are placed into an offshore bond structure which offers significant tax advantages in managing the investments. Initial investments can be made with a lump sum, with additional payments in suggested increments of up to £2,500 thereafter on a monthly, quarterly, annual or on an ad hoc basis. The returns will vary upon the individual’s needs and a complete risk profile is created to tailor the service offered. The trust is managed actively using a blended range of investment strategies which are agreed following an analysis of the objectives and tolerance of investment risk of the Trustees.
Joint Senior Partner Douglas Connell (pictured) says: “The cost of further education is an increasing source of anxiety for many families. Parents and grandparents are rightly concerned about the financial barriers which are being created and many of us are worried about graduates starting their careers with the millstone of significant debt weighing them down. The Turcan Connell Educational Fund is specifically designed for the long-term funding of further education. This is a lifetime legacy which could help to give the next generation the very best start.”
