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Protective Will Trusts

With an increasing amount of people wanting to protect their wealth, and concerned with the finanical impact care home fees have on it; a Will Trusts is an invaluable way to ensure as much as possible goes to the people you want to inherit.

We are on hand if you would like to discuss the benefits of adding a Trust to your Will.

What is a Will Trust

A Will Trust means that you leave your cash, property and processions (your assets) to people you trust (your trustees), who look after them for the people you choose to inherit (your beneficiaries). This means that your beneficiaries can benefit from your estate without actually owning the assets themselves.

Protect Your Estate and Your Loved Ones

Family structures can be complex and stressful, so it’s important to have the type of Will in place that best reflects your circumstances and wishes. Including a Trust within your Will gives you the reassurance, and peace of mind, that you can protect and control what happens to your property and possessions after you die.

We have simple solutions to a wide range of different situations to meet the needs of families who want to protect their own interests, or those of their children or vulnerable family members.

Why Have A Will Trust

Trusts can perform a wide range of different functions. The following illustrates some of the most common family situations where Trusts are often used:

  • To look after your spouse/partner after you have died, whilst at the same time making sure your children’s inheritance is protected
  • To allow your spouse/partner to continuing living in a property after you have died
  • To provide for vulnerable family members, for example somebody who is disabled and may not be able to look after their own affairs
  • To protect the inheritance of beneficiaries who are bankrupt or likely to divorce
  • To protect your property and possessions (as far as possible) from the impact of care home fees
  • To minimise the burden of Inheritance Tax (IHT)

Types of Will Trust

Protective Property Trusts

Can offer protection of the family home from a number of events including remarriage, divorce, bankruptcy or long-term care home fees, whilst also providing a home for your loved ones following your death.

Disabled Discretionary Trusts

Putting financial arrangements in place for somebody who is unable to manage their own affairs, without affecting the means-tested state benefits to which they might be entitled.

Discretionary Trusts

The beneficiaries and their entitlements to the trust fund are not fixed allowing complete flexibility and asset protection. For a few people there may also be tax advantages.

Nil Rate Band Discretionary Trusts

Used in certain circumstances to help mitigate the impact of Inheritance Tax.

Book A Review

Now you know a little more about Trusts, why not speak to one of our Legacy Planning Advisers about having a full Will Review. They will help you decide if a Trust is suitable in your circumstances and go through updating your Will at the same time.

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