Estate Planning & Trusts
Your estate includes your property, possessions, savings and investments
What is a Trust?
Will Trusts (standalone document or written into a Will) Trusts are legal arrangements that allow assets such as property or money to be looked after for the benefit of beneficiaries named in a Will whilst also protecting such assets from featuring in Local Authority means testing in the case of a surviving partner needing long term care.
Whether its to leave your property to your children but maintain protection for your partner for the rest of their life or to avoid inheritance tax by way of a Discretionary Will Trust there are many reasons to see of a Trust
How do Trusts work?
In addition Trusts can be set up to take care of family members with learning disabilities: Discretionary trusts are set up as a way of making long term financial provision for a disabled child.
The reason a trust is useful is that assets once put in trust do not belong to either the donor, parents or the ‘object’ of the trust who is intended to benefit. This means that the capital held in the trust is not taken into account when assessing entitlement to state benefits like Income Support or local authority obligations to fund care.
Trusts are used to pay for extra things which Social Security benefits may not fund, a holiday, new clothes, electrical goods, special equipment. Importantly a trust can also hold, manage and maintain the parental home if put into the trust.
Other Trusts
We are also able to provide Trusts for specific purposes such as:
- Disabled Dependents
- Allowing elderly relatives who live with you the right to reside in your home following your death
- Discretionary Trusts for High Net Worth families, to allow wealth to be passed tax-efficiently to subsequent generations
- Nil Rate Band Trusts to allow unmarried couples to use both their IHT free NRB allowances
Adhering to UK Law for your Benefit
Our approach aligns with UK law to maximise your gain economically, all while upholding the highest standard.
We are committed to the highest levels of service and adhere to a strict Code of Conduct – your guarantee of a quality and a professional service.
All of our work is double-checked, and we also carry a substantial level of Professional Indemnity Insurance for your added peace of mind.
GET IN TOUCH
Contact our friendly team and we will arrange your no obligation home visit. We can visit at a time that suits you, or you can book a Zoom call if you prefer.
MEET WITH OUR EXPERTS
During your appointment, we’ll listen to your wishes and discuss your options. We ensure you have a thorough understanding of the whole process.
YOUR WILL PRESENTED
Following your approval your documents are presented to you for signing with full instructions, then your final documents should be with you within 2-3 weeks.