Liam Shorte

speaker

320 appearances 2 recordings 1 series first heard May 2026 last heard 7 Jul

Liam Shorte’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 2 in all, peaking in Jul 2026 with 1.

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The Money Puzzle · Budget fallout: Before you do anything, do this · 21 May 2026 podcast

Then once the changes are through, that's when you need to review your investment strategy and go,

Should I now be more focusing on long-term income-focused assets and away from strategies that hide capital growth because of the changes?

Yeah.

For example, I saw somebody yesterday sort of recommending people jump into property as quick as they can, jump into shares.

There's never a reason to rush like that because you more than likely make an absolute hash of it.

Yeah, well, they're really going to need to review the wills and check.

You know, the idea with a testamentary trust is that you're leaving money to your beneficiaries.

Yeah, so a testamentary trust, a discretionary one, that allows your executor or whoever runs the testamentary trust after you've passed away to decide where the income from the assets you've left to them, how that income is distributed each year.

Now,

This was originally designed to make sure that it was designed in England to have a trust where if a father passed away, they left the money to their daughter.

It was protecting it from the husband who got most of the other assets.

And the idea was that the daughter and her children would be taken care of no matter what happened.

The money could be distributed down through the family using the fact that each member of that family, even under 18, could be treated as an adult for tax purposes.

Yeah.

So, you know, for example, if there was a hundred thousand income for the year and there was a widow and four children, each of them could be allocated 20,000 a year and probably pay no tax at all.

Okay.

It was a great way to make sure that the next generation was taken care of in the event of something going wrong.

Well, I see that a lot of it was, again, a lot of it was done originally as a protection measure.

So, and the problem is if you move to a fixed trust, testamentary trust, you're really taking that away because you're saying exactly how much each person gets.

Yeah, exactly.

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