SMN Will Writing Services can advise you on trusts especially Property Protection Trusts and Family Protection Trusts.
These Trusts protect the assets that you put into them such as a property which is valued below the IHT limit.
If you put money into the Trust such as savings this can also be protected.
The Trust is set up by a Settlor and the trustees are usually the Settlor and members of the close family. The Family Protection Trust will help to avoid probate fees, keep control of assets if any family members (who are Trustees of the Trust) have problems with marriage or divorce, or bankruptcy.
A Family Protection Trust can protect the interests of any children from a previous relationship on any remarriage of their parent. The children will not be deprived of an asset of which they are trustees.
Family Protection Trusts do not suit everyone’s particular circumstances but should you wish to explore entering into a Family Protection Trust then you should get in contact with SMN Will Writing Services.
SMN Will Writing Services can offer advice on basic tax planning matters.