Living Trusts are specifically designed to protect your assets for you during your lifetime. They give you the peace of mind that your estate can be passed on securely and intact to your spouse, your children and their bloodline, or other named beneficiaries, after your death
A Living Trust sets out your wishes about your assets and your heirs and becomes effective when you are alive
You can place many assets in to a Living Trust, such as property, savings and investments.
The Trustees will take control of the assets immediately, which can be very beneficial to you and your family in certain circumstances.
A Living Trust can protect your share of assets for your children and avoids Sideways disinheritance in the event that your partner should marry or co-habit after you have gone
They can be used as an effective mechanism to reduce inheritance tax or reduce your asset value for means tested assessments such as care fees
They can be a useful tool of how funds are distributed to your children if you have children who have special needs
They can ensure your assets stay in the bloodline rather than be inherited and lost in your children’s divorce
A Living Trust bypasses the time-consuming process of probate and assets can be managed without the need to wait for the Grant from the Court.
If you wish the Trustees do not have to wait for the Settlor to die to provide assistance to the beneficiaries. They can see their beneficiaries benefit during their lifetime.
You can place your assets in a Trust to make sure your beneficiaries receive them at a time that’s right for you and for them.
You have complete control – you decide on the trustees and what they can and cannot do. This is beneficial if at some point in the future you are unable to manage your financial and legal affairs due to incapacity such as dementia. Whilst you have capacity you can still do what you wish with your assets.
Please call us on 01362 697680 to book a free consultation