Trusts are a legal arrangement that protect your assets.
There are two types, one that works whilst you’re alive and the other after you die. Many people put their property and money into a trust to secure a future for their children. There are different types of trusts available to suit a variety of needs, and we help you understand what is appropriate.
Our friendly team at Mendy and Watt are on hand to talk you through the options available in order to select the correct solution depending on your personal circumstances.
You can have more than one trust depending on what you’re going to be leaving behind. Reasons to set up a trust may include:
- Protecting property until children reach an age where they are legally able to take possession of it
- Stop your property being sold to pay for care services
- Reduce inheritance tax liability
- To protect children from ‘sideways disinheritance’
- To provide for a spouse whilst keeping inheritance intact for children.
If you choose to create a trust for your assets you will need to appoint trustees. You can choose between one and four trustees, and it is usually best practice to appoint at least two.
Find out how a Trust could help you to protect your assets
Within a generation or two your inheritance could be completely lost to the tax man
Get in touch to arrange a no obligation chat to find out how the right Trust could preserve your wealth for generations to come.
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