Trusts, what are they?

A trust can be much more straightforward than it sounds. It is a legal deed that makes  sure the asset placed inside it, is treated in a specific way for both taxation purposes and access.

For example, most people will have Life Insurance Policies, and by placing these in trust it will be paid out quickly to the people that it’s intended to benefit and this can often be without any impact from inheritance tax.

We want to ensure that you do not waste money in the estate you leave behind and we therefore always recommend that you strongly consider placing any Life Insurance Polices you have into trust.

you can include Trusts in your Will

There are many benefits to having a Trust included in your Will, these can include:

• Protecting your children’s inheritance by appointing a trustee who will oversee the use of the funds whilst your child is a minor.

• Protecting the inheritance of children should your spouse remarry. If the estate passes to a new spouse your children may be disinherited.

We can advise you on which Will Trusts are appropriate for your circumstances.