Trusts can be complex and costly but they don’t have to be. They are suitable for a number of scenarios. For example, a grandparent might consider using a bare trust to gift money to minor grandchildren which can be used to pay school fees. The advantage of using a bare trust in this way is that the money inside the trust is treated as belonging to the child for tax purposes, allowing them to make use of their personal tax allowances and exemptions which may otherwise go unused.