The Nr. 1 rule of estate planning #willsandtrusts #estateplanning #assetprotection #estateplan #probate #familylaw #financialplanning #estate

Can you I gift my house to my children? #estateplanning #estateplan #willsandtrusts #trusts #probate #learnwithtiktok

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It depends on the type of trust and time.

When assets are successfully transferred into trust, they're no longer a part of your estate.

When assets are successfully transferred into trust, they're no longer a part of your estate.

To make sure the trust assets are not subject to Inheritance Tax on your death you need to be very careful about reservation of benefit.

Generally, assets gifted to a Trust will be free of inheritance tax after 7 years.

If you need help in your specific situation setting up a professional estate plan be sure to book a 20 min free call here: https://maplebrookwills.co.uk/book-a-meeting/

For more UP-TO-DATE information on how to protect your wealth and your assets be sure to follow this channel and follow us on

Facebook: https://www.facebook.com/maplebrookwills/
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What happens to your bank account when you die? #bankaccount #probate #inheritance #estateplanning

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What Is The Difference Between A Will And A Lifetime Trust? - What Is The Difference Between A Will And A Trust In The Uk Especially?

A will and a trust are legal documents in estate planning that manage the transfer of assets to beneficiaries, but they have major differences.

My name is Mike Pugh, and I am a professional estate planner with over 2000 clients and over £500 million in estate values managed.

SUBSCRIBE to the channel for all the best strategies and methods on how to transfer wealth and assets to your children & protect them from care fees, divorce and inheritance tax.

So what is the difference between a will and a trust when it comes to estate planning?

A will transfers assets to beneficiaries after you die, and all assets remain in your name.

A trust can transfer assets to beneficiaries, and it can be effective while you're alive, protecting assets and removing your name as the legal owner of the item.

A will can appoint guardians for minor children, which is critical if your wealth is your children. However, a trust cannot deal with guardianship issues.

A will is necessary to distribute your assets and deal with taxes and settlement of the estate, but assets are frozen until probate is complete. Executors can apply for a grant of probate on your estate, deal with taxes, get the date of death balances, and deal with the funeral, which can take a long time. The minimum time required to get a grant of probate is nine months.

On the other hand, a lifetime trust passes assets to beneficiaries instantly without going through probate or estate administration. The family can deal with the property instantaneously. This is a big deal because waiting for a year can be frustrating.

In summary, a will and a trust have significant differences, and which one is better depends on your situation…but we always recommend a will for EVERYBODY a trust for SOME.

If you need help in your specific situation setting up a professional estate plan be sure to book a 20 min free call here: https://maplebrookwills.co.uk/book-a-meeting/

For more UP-TO-DATE information on how to protect your wealth and your assets be sure to follow this channel and follow us on

Facebook: https://www.facebook.com/maplebrookwills/
Instagram: https://www.instagram.com/estateplanninguk
TikTok: https://www.tiktok.com/@estateplanninguk

Or send us an E-mail at : answers@maplebrookwills.co.uk

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How do I know if my Estate Planner knows what they are doing?
How do I check to see if my Estate Planner is correct?

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Protect your assets from the second wife. And make sure everything goes to your children. #estateplanning #assetprotection #willsandtrust #trusts

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What happens to your Tik Tok account when you die? #estateplanning #data #estateplan #willsandtrusts #inheritance #death #learn

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