There are a number of Trusts that can be used either in your Will or set up during your lifetime to protect those assets.

Property Protection Trusts

For most people their most valuable asset is the family home.

One of the main concerns people in a relationship have is what would happen if you died and your surviving spouse or partner went on to meet someone new?  It’s possible that instead of leaving the house to your children they could leave it to the new partner or spouse. This could even happen if they did nothing. Alternatively, you may have children from a previous relationship for whom you want to protect your half of the house.

We can incorporate a special type of trust in your Will, which can ensure that your share of the family home is preserved for your children whilst still allowing your surviving spouse or partner to continue to live in it. 

Discretionary Trusts

We offer a variety of different types of discretionary trusts which could help your own situation, and save your loved ones losing part of their inheritance or paying un-necessary inheritance tax.

Couples who are living together but not married, could end up paying a lot more in inheritance tax (IHT). The Nil Rate Band (NRB) Discretionary Trust can be used as a useful tool to reduce IHT liabilities on the event of the second to die.

Families who have a relative with learning disability often use a Disabled Discretionary Trust as a way of putting in place financial arrangements to help support the disabled relative without affecting future benefits payments and allow greater flexibility for future care arrangements.

When a child inherits while they under the age of 18 years, their inheritance needs to be held under a legal trust for their benefit. This is a complex and expensive legal procedure, as it involves an application to the courts to allow for the trust to be established. In addition to this expense, after the child reaches 18, they are quite free to spend (or worse squander) it. However, many people do not feel that this provision is suitable and therefore include this special and flexible trust in their professionally drafted Wills.  Through the Children’s Trust, the parents can place an age restriction on the inheritance (say 21 or maybe 25 years of age).  In addition, they would also nominate trustees. These are people they have total confidence in to manage the trust for their children until they become of age and thus eliminate any costly and complex court fees. These are also exceptionally flexible trusts. Should the trustees feel that it is suitable, they can choose to advance funds to the children prior to the age of inheritance. For example, should a child need a life saving operation or require funds for university.