Many clients believe that Trusts are only for the wealthy or those with complex circumstances.
However, Trusts can be extremely useful in many other instances and they are often essential in protecting your estate for future generations after your death.
Our Approach to Trusts and Estate Planning
Why should I make a Trust?
Trusts are primarily established to protect your estate and for future generations. Have you already provided for your children and would now like to benefit your grandchildren? Are you concerned about your spouse remarrying after your death? What if they die without a Will and most of your estate passes to their new spouse? This does happen.
Other reasons include:
- To protect family assets, such as property, from the divorce or bankruptcy of your children or grandchildren;
- For family succession, i.e. if bypassing your adult children to ensure the estate is used for the education or benefit of your grandchildren;
- When someone is too young to manage their affairs;
- When a relative is disable or incapable of managing their affairs;
- Protection the means-tested benefit of a loved one, who may otherwise inherit a lump sum from your estate;
- Protection your estate from care home fees;
- Flexibility – the circumstances of your beneficiaries might change in the future, by setting up a trust you can ring-fence your assets and appoint Trustees to manage those assets and appoint funds out to individuals after your death.