What is a trust?
A trust offers protection, a Will offers direction
A Trust is a way or protecting your beneficiaries inheritance. When you set up a Trust your assets are removed from your estate and put aside for the beneficiaries. This enables you to protect your assets from third parties. This could include for instance paying for long term care, but also will protect your assets should your beneficiary go bankrupt after inheriting or prevent a spouse from claiming your beneficiaries inheritance through a divorce after your death.
Benefits of a Trust:
- Protects beneficiaries from losing up to 50% of their inheritance should they divorce
- Protect beneficiaries from losing up to 100% of their inheritance should they go bankrupt
- Ensures that at least your share of your estate goes to your beneficiaries, even if your partner re-marries after your death
- Protects any grandchildren and future generations of your family from paying inheritance tax unnecessarily
- Ensures that disabled beneficiaries continue to receive any mean tested benefits they are receiving after they have inherited
- Protects vulnerable, wayward or alcohol/drug dependant beneficiaries from being manipulated by others into misusing their inheritance after they have inherited
- Avoids potential long delays and expensive costs associated with probate
In short a Trust is a stronger document than a Will, and cannot be challenged.
You would do anything to protect your loved ones when you are here, creating a Trust continues to protect them after you are gone.
To learn more about Trusts or to chat about adding one to an existing Will call us today for a FREE consultation 01903 339 007
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