Portcullis
Trust Planning - it's critical

Trust Planning - it's critical

Trust Planning – What Is A Trust?

Quite simply, a Trust is a box that you can place your assets into, in order to protect your estate or your intended beneficiaries, from the threats of probate costs, sideways disinheritance, divorce or bankruptcy of your beneficiaries, remarriage or inheritance tax.

Trust planning is a very specialised area of law and we have a team of professionals that are expert in this field. Be very careful to ensure that this is dealt with by specialists. This is a significant area within Portcullis and one of our main area’s of expertise.

A Trust has the ability to:

  • Prevent your direct bloodline (children and grandchildren) losing out in the event of your dying and your surviving partner remarrying. If you simply leave your estate to your partner and they remarry and subsequently die, it is common for the estate your partner inherited from you to pass to the family of the new partner. A Trust can stop this.
  • Prevent an inheritance left to a child who is facing problems (divorce, bankruptcy) can be distributed to that child in such a way that it won’t be squandered or misused.
  • Prevent the situation arising whereby a child with disabilities could lose benefits if they inherit from you through a Will. Inheriting via a Trust means that benefits are not affected.
  • Any assets that are held in a Trust can be distributed immediately – thereby removing the need, and the huge cost and time delays of probate.

Trusts are far more than just a potentially tax efficient way of protecting and gifting assets for the next generation. They provide welcome protection for young children or vulnerable beneficiaries. We can help you set up and manage effective trust planning, providing you with peace of mind.

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