Family trusts have become an extremely popular option in the last few years and are set to become dramatically more in coming years as the government introduces vastly increased probate fees for estates over £50.000.
to see the daily mail article, talking about vastly improving probate fees.
A family trust is a 100% totally versatile legal document that protects the assets settled into it for Inheritance Tax purposes and to protect against their loss to long term care home fees.
Almost any asset can be protected in a family trust. Most clients use it mainly to protect their home from care fees but it can also protect cash in a bank a/c, boats, caravans etc.
During your lifetime you have total use of any assets within the trust and you can add or subtract from them at any time at your discretion.
The wonderful thing about family trusts is that upon your eventual death, the assets within the trust do not pass through the lengthy process of probate; they go instantly to your loved ones thus saving many thousands of pounds in probate and legal fees.
Setting up a family trust is quick, easy and relatively inexpensive & we attend to the land registry work if you are placing your home or other properties into the trust.
All our family trusts are drawn up by our highly regarded specialist trust barristers , so you can be sure that you have the finest legal documents available today.
Our consultants will be pleased to advise you which assets you should consider protecting with a family trust.