My Family's Inheritance
Everybody wants to protect their assets for the benefit of their loved ones. People are motivated to provide for their children throughout their lives and want what is best for them. Many people will draft a Will hoping to ensure that the assets that they have worked hard to acquire during their lifetime, are passed on to their children and chosen beneficiaries after their death.
Trusts have been developed through the law of equity and in modern times are often used by hospitals and the Government. An Asset Trust is an arrangement where assets (possibly including property) are given over to one or more persons who will be nominated as Trustees to administer the Trust.
Once an Asset Trust has been created, you can use it to 'ring-fence' your assets. Most people will protect their home and their savings, leaving capital in their bank or other savings accounts for ongoing living expenses. Income from savings protected within the Trust can be paid directly into your bank account to supplement income from earning or pensions.
The possible benefits of an Asset Trust:
• No sideways disinheritance
• No Court of Protection control
• Protection from bankruptcy
• Financial protection from relationship failure
• Protection for benefit dependent beneficiaries
• Protection from inheritance tax for the beneficiaries
After your death, the trust continues to work to protect your assets for your beneficiaries. The Trust can continue to hold assets safely within it, or pay them out to the specified beneficiaries. The Trust is extremely flexible after your death and has the potential to continue protecting your family for 125 years from the date it was created. That means that all of the benefits described in this document can not only protect you and your children but can also protect your grandchildren and great grandchildren.
Trusts for children who have lost a parent are usually set up by the parents' Will, or by special rules of inheritance if there is no Will.
Our trained consultants can discuss your current circumstances and recommend the products that will provide the correct protection for you, your family and your assets. For peace of mind contact The Will Associates today and Get your free information pack or call us on 0800 8477 212 to arrange a free appointment with one of our trained consultants, at a time convenient to you and your family in the comfort of your own home.