Protect your biggest asset today with a Lifetime Trust Will
A lifetime trust differs from a will, as it protects your property and assets throughout your lifetime, not just after you pass away. If you wish to pass property down to relatives while you are still living, a lifetime trust allows you to do that. A useful estate planning tool, this legal arrangement avoids the need for those inheriting your property to gain a Grant of Probate.
Our legal advisors are located across the UK, and are here to help you make the best decision for your future and your family. Contact us today, to find out about our services.
Lifetime Trusts can ensure that your property and other assets can be enjoyed by future generations
Lifetime Trust Explained
Warning: your children may not inherit your house!
There are so many things that can go wrong in life, that could be made easier and more manageable with a lifetime trust. Events that you weren’t expecting, when things come out of the blue and change everything.
If you have to go into a care home, for example, the care fees can drain your bank account until your savings are exhausted. After that, your house could even be sold to pay what you owe to the local council.
Then there is the possibility that one of your children could get divorced. Half of your children’s inheritance would then be gone in a divorce settlement.
Perhaps your children inherit young and squander their inheritance, or maybe start a business that goes bankrupt. Either way, your hard-earned money is gone forever.
All of these are great reasons to protect your assets.
Talk to us about Lifetime Trust Wills today.
Get expert help with setting up a Lifetime Trust
Lifetime Trusts are the most best estate planning tools available, but also the most complex. One of our local experts can:
How it works
We can help you set up a Lifetime Trust
Lifetime trust wills are complicated. If they seem confusing, that’s because they are! At first, you may not understand why they cost so much more than a basic will.
We can explain these perceived complexities, and answer all your questions, in plain English. But first, we’ll take the time to get to know your circumstances and find out if a Lifetime Trust really is suitable for your needs.
Our network of experts are based all over England and Wales. When you get in touch, we’ll put you in contact with an advisor in your local area. With over 830 reviews on Trustist, you’ll be in good hands.
“Deri made a complicated Trust process clear and was helpful and patient throughout. Would recommend the company’s service.”
“Ian was extremely helpful in helping me understand the Trust process. He was very professional yet friendly, explained everything clearly in plain English and always had time and patience to answer my questions.”
What is a Lifetime Trust and what does it do?
A lifetime trust is simply a different way of owning assets. Typically, people put their properties in lifetime trusts but you can put in anything you can own, including money, boats and cars.
This different method of ownership is why lifetime trusts are so useful. Instead of owning assets in your own name, they are instead owned by the trustees. You can be a trustee yourself if you wish and you can choose the other trustees, allowing you to retain control.
This can be useful if you don’t want to own assets in your own name during your lifetime. It’s well known that cash-strapped local UK councils sometimes sell people’s homes to recoup care fees. But if you don’t own your house in your own name, in theory you could avoid it being considered as part of a means assessment.
You need to be careful, however. It is certainly not guaranteed that Trusts will protect your assets from care fees. Indeed, if a local council thinks that there was a foreseeable need for care in your case, it can take the fees anyway. This principle is known as “deliberate deprivation”.