Will Trusts

Will Trusts are within a Will to take effect when you die. They are commonly drafted for a husband and wife to safeguard

their assets for their beneficiaries.

They can also be drafted by individuals to protect young or vulnerable beneficiaries.

UNDERSTANDING WILL TRUSTS

Trusts are legal entities that allow someone to benefit from an asset without being the legal owner.

A trust is created within the Will and a person (or specialist trust firm) is appointed to manage it - the 'trustee'. The trustee manages the trust on behalf of the 'beneficiaries' - those who are named in the will to receive income from the trust.

Trusts may be set up for any number of reasons, for example:

to control and protect family assets
when someone is too young to handle their affairs
when someone can't handle their affairs because they are incapacitated
to pass on money or property while you are still alive (Lifetime Trust)
to pass on money or assets when you die under the terms of your will - a 'Will Trust'

Protective Property Trust

Provides greater peace of mind if you own a property and wish to protect its value for your future generations.

Benefits of a Protective Property Trust

Guarantees who benefits from your share of the property if your surviving partner:

Remarries after you die (marriage automatically invalidates any existing Wills)
Writes a new Will after your death, changing their original wishes
Can help reduce the potential impact of residential care fees on the property value for the benefit of future generations.

Who Can Benefit from a Property Trust Will?
Anyone who owns property and

wants to protect the property value for specific loved ones in the future
wants to protect the property value from the potential future risk of residential care fees should this be required for the surviving partner.

Flexible Life Interest Trust (FLIT)

Helps if you have significant assets or investments as well as property, and wish to protect their value for future generations.

Benefits of a Flexible Life Interest Trust

Guarantees who benefits from cash assets, investments, as well as property if your surviving partner:

Remarries after your death (marriage automatically invalidates any existing Wills)
Writes a new Will after your death, changing their original wishes
Allows a nominated person to benefit from the income generated from your investments if you die, whilst protecting the capital value for future generations.

Who Can Benefit from a Flexible Life Interest Trust?

Anyone who holds cash assets and investments in their sole name and:

Wishes to take care of a nominated person such as a surviving spouse, but help protect the capital value of investments for specific loved ones in the future
Wants to protect the value of the investments for future generations.

Discretionary Trusts

Allows you to appoint trustees to manage inheritance on behalf of vulnerable loved ones who require assistance.

Benefits of a Discretionary Trust

• Guarantees that vulnerable people are given assistance in the management of their inheritance
• Reduces the risk of state benefit entitlements being compromised by the receipt of inheritance
• Potentially helps unmarried couples with Inheritance Tax planning.

Who Can Benefit from a Discretionary Trust Will?

Anyone who wishes to leave inheritance to:

Loved ones who lack the mental or physical capacity to look after their own affair
Loved ones who have a disability and run the risk of having their state benefit entitlements compromised by receiving an inheritance
Beneficiaries who are in a vulnerable position. e.g. someone undergoing a divorce, those with learning disabilities, those who are struggling financially.

TYPES OF TRUSTS

Contact us for a no obligation meeting to discuss your indiviual needs and if having a trust written into your Will will benefit you and your loved ones.

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