How you can protect your assets with a family trust
Protect against financial loss or bankruptcy
If you suffer a large financial loss or run into debt, a family trust can protect your property and other assets from being claimed by your creditors. A family trust can even protect your estate in bankruptcy, as long as the trust is written far enough in advance.
Protect against sideways disinheritance
A family trust can protect your children’s inheritance if you remarry or enter into a new long-term relationship, and the ties subsequently break down.
You can ensure that assets passed to your own children pass directly to your grandchildren on your child’s death. This prevents your wealth being transferred to a son-in-law or daughter-in-law, who if they remarried, could disinherit your bloodline.
Protect against probate delays and costs
Probate is required on all estates with assets over £5000. It can take up to 6-months to manage probate if you have a will — and if you do not have a will — it can take up to 2-years. However, property and assets owned by a family trust are not subject to probate and can be distributed straight after death while relieving you of debilitating probate costs.
Provide for your children’s future
You can lock away funds in a family trust to help with schooling, university fees, or even provide a deposit to help your children get on the property ladder in the future.
Assets can be added to trust and made available to your children a certain age, usually 21-years old — and if you and your spouse died while your children were minors, an executor could administer the trust on their behalf.
Reduce inheritance tax
Inheritance tax can be minimised for future generations if you place your assets into a family trust.
Protect against illness or loss of mental capacity
If you lose mental capacity and are no longer able to make important decisions, the assets in your trust can be managed by a trustee on your behalf.
Assets can be moved back and forth from the trust as needed to help maintain the quality of your life.
Creating a family trust doesn’t need to be a complicated exercise. We can assess your personal circumstances and make appropriate recommendations to provide the best protection. Call us on 01273 385833 to learn more.
Why Choose Brighton Wills & Family Trusts?
You will be dealing with real people who have your best interests at the heart of our business.
We maintain excellent standards through our membership of The Society of Will Writers, who administer the industry Code of Practice.
Our professional, yet non-stuffy approach is a testament to the hundreds of satisfied clients who have chosen Brighton Wills & Family Trusts to write over 1,500 wills, family trusts and lasting power of attorney documents since 2014.
And for your peace of mind — we carry Professional Indemnity Insurance of £2 million — and we are always happy to provide references if required.
Brighton Will Writers & Family Trusts
"Helping you protect what you have worked all your life for"
Helping you protect what matters the most
Making a will is one of the most responsible things you can do in your life. It takes decision making away from the courts and ensures your property, savings and personal possessions are distributed to the people you choose in the manner you wish.
Once you have a will in place, you will feel a massive sense of relief. You will be safe in the knowledge you have bought order to what is often a hugely emotional situation.