Family Trusts
What We Offer
Family Trusts
Why do I need a Family Trust? Property Protection Trusts or Family Trusts within your Will can significantly benefit your Estate Planning, allowing for extra layers of protection and control.
You may wish for example to ensure that a particular person can stay in your property for a defined period of time after you die – or indefinitely.
Equally, you may be concerned about potential care home costs (the value of your house can be included in local government means-testing if it is not protected), the impact of a divorce, or future claims against the estate by people you have purposely excluded. All of these scenarios and more can be addressed by building in a trust within your will planning.
If you have vulnerable or disabled beneficiaries – children or adults – you will want to ensure that their needs are properly taken care of and that they will not be subject to any claims against the estate. A trust may be the most suitable legal vehicle to protect these concerns.
TESTIMONIAL
Very professional, very helpful and explained everything so well! Nothing was to much trouble and nothing was ever forced pleasure to have gone with Protego for mine and my wife’s Wills.
Rhys Taylor.
Family Trusts
Frequently Asked Questions.
A Will Trust is a specific tool used within a Will to protect property and to defer the financial gain, be it rental income or proceeds from a future sale. This is used to help children of the deceased who are not of legal age to retain future control of the property upon them becoming an adult.
Yes. This mechanism is specifically used to manage the value from properties within the trust in the event of the owner's death.
A trustee manages the Will Trust but does not financially benefit from the arrangement, neither do they ever own the property. The simply ensure the asset within the Will Trust is correctly maintained and all proceeds either from a sale or rental income are passed to the beneficiary/beneficiaries when they reach legal adult age.
A Will Trust is created upon your death whereas a Lifetime Trust is established during your lifetime. There are many tax implications when it comes to Will Trusts so it is vital you speak to a professional adviser who can navigate the advantages as well as liabilities of establishing a Will Trust.
