Family Protection Trusts
We can choose from a suite of Trusts created in your lifetime to suit your individual needs, covering your property, pension, life assurances, investments and other assets you own.
These Living Trusts allow you to preserve those assets for up to 125 years for the benefit of your bloodline for generations to come, avoiding any future subsequent Inheritance Tax Liabilities along with any potential bankruptcy or divorce proceedings.
Why do you need Family Protection Trusts?
Asset Protection
Through the transfer of your assets into a trust, you can shield your direct decendants from potential risks like creditors, legal claims, or unforeseen financial uncertainties. The trust operates as a distinct legal entity, introducing an additional layer of safeguarding for your assets.
Probate Mitigation
A key benefit of creating one or more Family Protection Trusts is the ability to circumvent the probate process for your estate. Probate, known for its time-consuming, costly, and public nature, contrasts with the more efficient and private distribution of assets held in a trust following your passing.
Control and Flexibility
Utilising Family Protection Trusts allows you to maintain authority over your assets while detailing your preferences for their management and distribution. You have the flexibility to provide specific instructions for beneficiaries, including setting conditions for distributions or specifying when and how the assets should be utilised.
Continuity
The trust establishes a mechanism for the seamless and uninterrupted administration of your assets in case of your incapacity or demise. You have the option to designate a trustee who will oversee the trust, ensuring that your assets are managed in accordance with your specified wishes.
Privacy
In contrast to a will, which becomes part of the public record during probate, a Family Protection Trust offers increased privacy. The particulars of your assets, beneficiaries, and distribution instructions remain confidential.
Potential Tax Benefits
A Family Protection Trust might provide particular tax benefits, contingent on your jurisdiction. It is crucial to seek guidance from a qualified tax professional or estate planning attorney to comprehend the precise tax implications and advantages relevant to your individual circumstances.
Why do you need Family Protection Trust:
Asset Protection
Through the transfer of your assets into a trust, you can play a role in shielding them from potential risks like creditors, legal claims, or unforeseen financial uncertainties. The trust operates as a distinct legal entity, introducing an additional layer of safeguarding for your assets.
Probate Avoidance
A key benefit of a Family Protection Trust is its ability to circumvent the probate process for your estate. Probate, known for its time-consuming, costly, and public nature, contrasts with the more efficient and private distribution of assets held in a trust following your passing.
Control and Flexibility
Utilizing a Family Protection Trust allows you to maintain authority over your assets while detailing your preferences for their management and distribution. You have the flexibility to provide specific instructions for beneficiaries, including setting conditions for distributions or specifying when and how the assets should be utilized.
Continuity
The trust establishes a mechanism for the seamless and uninterrupted administration of your assets in case of your incapacity or demise. You have the option to designate a trustee who will oversee the trust, ensuring that your assets are managed in accordance with your specified wishes.
Privacy
In contrast to a will, which becomes part of the public record during probate, a Family Protection Trust offers increased privacy. The particulars of your assets, beneficiaries, and distribution instructions remain confidential.
Potential Tax Benefits
A Family Protection Trust might provide particular tax benefits, contingent on your jurisdiction. It is crucial to seek guidance from a qualified tax professional or estate planning attorney to comprehend the precise tax implications and advantages relevant to your individual circumstances.
It’s crucial to recognize that the laws and regulations governing trusts can differ across jurisdictions. Consequently, it is essential to seek counsel from an experienced estate planning attorney who can offer personalized advice tailored to your specific circumstances and the laws in your jurisdiction.
A Family Protection Trust serves as a valuable instrument in guaranteeing the safeguarding and effective administration of your assets for the well-being of your family and loved ones. Engaging with a qualified professional can assist you in assessing the suitability of a Family Protection Trust for your estate planning objectives.
Contact us today to schedule a FREE consultation and take the first step toward securing your future and providing for your loved ones when the inevitable happens. Our dedicated team are here to assist you with all your Will writing & estate planning needs.
