Protect your assets in a Will Trust or, A Lifetime Family Trust

What we offer

Special Offer - FREE WILL (With an LPA)

  • Will Trust and Lifetime Trust
  • FREE Consultation
  • FREE WILL
  • FREE Annual Management
  • 50% off LPA (with a Trust)
  • Set up by qualified and experienced solicitors

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When are you looking to arrange your will?

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A Trust can be a good idea

  • Avoid unwanted claims on your property
  • Avoid sideways disinheritance
  • Avoid expensive probate fees & delays
  • Protect your assets from bankruptcy
  • Financially protect yourself from divorce
  • Plan for loss of capacity

 

The Financial Conduct Authority does not regulate wills and trusts.

Will Trust – is this for you?

A Will Trust is often known as Protective Property Trust and involve changing the way you own your family home from joint ownership to ‘tenants in common’. The Trust comes into being on the death of the first partner. This can achieve the desired outcome for many people who wish to leave their share of the property to beneficiaries who otherwise might not inherit such as children from previous relationship.

Trust Will is relatively inexpensive to set up and has its benefits for many married and cohabiting couples.

 

What is a Trust

Lifetime Family Trust can be considered as a prudent move

Classification of Trusts

  • Fixed Trust – Settlor determines beneficial interests:

    ‘to Trustees upon Trust for my children AB & C in equal shares,’ or ‘for A for her lifetime, then to B in remainder,’

 

  • Discretionary Trust – Settlor delegates power to someone else

    ‘I leave the sum of £25,000 to my Trustees, to distribute amongst any of my children as they, in their absolute discretion shall determine’

 

  • Powers of Appointment (not Trusts in themselves but can be contained in a Trust, which dictates the transfer of property)

    Defined by Hanbury & Martin as ‘an authorisation to do certain things which affect property to which the appointer is not solely entitled to and, in which he may have no beneficial interest in at all’

Lifetime Family Trust

Lifetime Family Trust is often known as Asset Protection Trust. Unlike Will Trust, this is established straight away. Lifetime Family Trust is far more expensive than basic Will or Will Trust.

As this involves transferring your family home into a Trust while you continue to live in it, it offers valuable benefits from ensuring that your home will pass to those individuals you wish to benefit at a time selected by you – for example, when you die to passing control of your home to the Trustees should you lose capacity. As you no longer own your family home in your personal name, it may avoid the value of your home being included in a local authority means test for residential or domiciliary care.

Lifetime Family Trust and Care

The Parties and their roles