Trusts in Wills

Trusts-in-wills

This company does not charge at present for including the first trust into the Will that is made for you.

A trust is a legal agreement that records how identified assets are dealt with when the testator dies.

Trusts have the ability to protect money and assets such as the family home

Wills can have clauses which allow for a trust to be made in respect of certain property. They are usually used for property which cannot be inherited by minors until the age of 18 or until the person making the will wants them to inherit. They can also be used to help look after children or adults with mental illnesses or a disability as they not only assist with inheritance tax but also protect the benefits that the person receiving the gift is entitled to.

Trusts can help your beneficiaries who are unable to handle their own affairs

A Trust provides a legal obligation for the Trustee to deal with property on behalf of beneficiaries without giving them ownership. Trustees have legal ownership however cannot use the property as if it is their own. Any use is for the benefit of the beneficiaries.

A trustee can also be a beneficiary.

Trusts created by a will can be complicated and tailored advice will be given dependent on the circumstances.