A trust is a legal agreement which is mainly used as a means of protecting your money and assets. It can be within a Will, or set up separately. We can help you choose what type of trust you may need and advise the Trustees, the people that look after the trust, or the beneficiaries, the people who benefit from the trust. We’re experts in this field and members of STEP.
A Trust can be used as a measure of protection and for preserving your wealth. There can be a number of reasons why you may want to set one up, such as:
- To provide for a child under 18
- To create a trust fund which a beneficiary can only access at a certain age
- If an illness or disability prevents you from being able to look after your money yourself, money can be given to a Trustee to decide how it can be best used for your benefit. This can also apply to the beneficiaries of your Will
- To ensure that you don’t lose any means tested benefits should you receive compensation, perhaps after a personal injury award
- To prevent an adult child’s inheritance being taken into account should be going through bankruptcy or divorce when you die
- To prevent the local authority taking the value of your house into account should you need nursing or residential care.
We will always work with your other professional advisers to implement a Trust and to ensure that it meets your needs.