19 Nov What is a Family Trust, and how can it help you protect your estate?
So you own a house and would like your children to inherit it? That’s what everyone wants to happen. However, it may not happen due to a number of reasons.
If you have a will, your probate solicitor will have to ensure that anyone who is owed money is paid their dues before you family can have their inheritance. Who would you owe money to? This would include any creditors (business or personal), the taxman, the care home, etc. All of these are potential risks and you must do everything possible to maximise the value of the estate that your family inherits. There are a number of solutions available to you and one of these is the Family Trust, sometimes also referred to as the Home Protection Trust or the Asset Protection Trust.
A Family Trust combined with robust Inheritance Tax Planning can mitigate most of the risks to your estate. For further information or to book a Free Consultation to evaluate the options available to suit your particular circumstances, please feel free to contact us either by phone or by email. Our contact details can be found on the ‘Contact Us’ page on this site.