What is a Trust?
When it comes to dividing up your estate and assets and making sure they go where you want them to, a Trust can provide you and your loved ones with peace of mind. Trusts are used to enable a trusted person (Trustee) of your choice to hold an asset in their protection for the benefit of another. This could be property, an inheritance until your children come of age, or assets. With a Trust, only the people you have specifically named will have access to them.
You can specify in your Will whether you want to leave gifts outright or whether to hold them in a Trust. Your Trustees will then deal with the decision making after your death. Trusts can be arranged to protect your assets from care fees and ensure young or vulnerable beneficiaries are remembered through your Will. They can also help you gift assets while you’re still alive.
Trusts are complex, and there are many legal and tax implications to bear in mind. So, for expert advice and guidance, get in touch today to see how we can help.
Why do I need a Trust?
If you want to protect your assets and estate when you die and ensure they are divided according to your wishes, creating a Trust is essential. It can help eliminate many of the risks and uncertainties that come with executing a Will to ensure your wishes are carried out.
Trusts can protect your estate and assets from individuals who aren’t provided for in your Will contesting it. If you have children from a previous relationship or marriage, their inheritance will be protected if you have remarried or found a new partner.
Trusts can also help prevent large sums of money from going to children without any controls or conditions in place. They can also protect against your home being sold off to pay for another person’s care fees, such as your partner or spouse.
Protect your family with a Trust
Losing a loved one is a distressing time. The last thing you want to put your family through when you die is unnecessary legal and financial hassle. Creating a Trust can help you avoid this. It can protect your family from the expense, delays and red tape associated with the probate and estate administration process. It can prevent your beneficiaries’ benefits from being stopped because their inheritance pushes them over the ‘savings cap’ used to determine care costs.
Trusts can ensure your beneficiaries don’t lose any of their inheritance if they are in debt or going through a divorce when you die. They can also safeguard any future generations from having to pay Inheritance Tax. If you would like to arrange a no-obligation consultation to discuss how you can protect your assets using Trusts, get in touch today.
"Throughout the process we felt in good hands and there is no one else who could have dealt with our queries, circumstances and wills in any better way than Sevvy did. Thank you for fantastic service! I would have absolutely no doubt recommending Sevvy and using him for any changes to our wills in the future."
Let King Will’s Wills take the stress out of creating a Trust
At King Will’s Wills, we believe the process of creating a Trust should be as simple, straightforward and pain-free as possible.
We’ll explain every stage of the process in simple terms and plain English to ensure you understand the how Trusts are created and what they can help you to achieve. We’ll also ensure that your Trust is legally compliant and protects your estate in accordance with your wishes so that when the time comes, it will avoid any additional stress, hassle or inconvenience for your loved ones.
We provide a simple, straightforward and affordable service with a personal touch that doesn’t compromise on quality. We’ll meet with you at your convenience, online or in-person, during evenings or at weekends. All our fees are fixed and quoted up-front, so there are no surprises later, and our work is fully insured. To make a start, give us a call today.