One of the most important benefits of planning ahead is to help give you control and protection of your assets (such as your home) and any savings or investments you may have. This may seem very complex, but in essence can be achieved through a number of different plans that are known as ‘Trusts’.
Some of these Trusts are set up when you are still alive. These are commonly known as 'Lifetime Trusts' while others, known as 'Will Trusts', come into play once you have died.
A Lifetime Trust
Our lifetime Trust: The Lifetime Property Protection Trust’, allows you to shelter any assets you have, such as your home, in a Trust. Once the Trust is set up, it provides protection for any assets transferred into it and can help to make sure you leave as much as possible to your loved ones.
To find out more about a Lifetime Trust click here.
Unlike a ‘Lifetime Trust’ which is set up when you are alive, a Will Trust is set up once you have died.
In simple terms, rather than transferring everything in your share of the estate to your spouse or partner when you die, it is put into a Trust. By doing so, you are, in essence, putting a protective arm around your wealth.
To find out more about Trust Wills click here.