Setting up a trust for inheritance/estate planning

[frugledoc]

At a will writing appointment with lawyer today they recommended this (at a cost of 4k for my wife and I), to take assets our of our estate and thus not eligible for inheritance tax.

Has anybody else done this?  Alarm bells are ringing, I told my wife I would discuss it with uk mustachians!

[skip207]

Fee does not sound a million miles off TBH.  You are looking at £3-£5k for a moderate size estate for a trust to be set up.

If in doubt get a second opinion though. 

[shelivesthedream]

My parents have done this. They have set up a Discounted Gift Trust (?) with them, me and my brother a trustees as part of our inheritance. They are also planning to set up something similar-sounding (designated gift trust?) to put money in to dole out for "approved" child and grandchild expenses - again, with them and me and my brother as trustees - that has a sort of informal mission statement.

Sounds well dodge to me, but happy to give you more info if I can.