Trusts

Trusts

Family structures can be complex and stressful, so it’s important to have the type of Will in place that best reflects your circumstances and wishes. Including a trust within your Will can give you the reassurance and peace of mind that you can protect and control what happens to your assets and property after you die.

A trust is a legal arrangement where you give cash, property or investments to someone else so they can look after them for the benefit of a third person. So, for example, you could put some of your savings aside in a trust for your children. Money or property held in a trust is no longer legally yours therefore it does not form part of your estate when you die. You can set up the rules of the trust so, for instance, if you leave part of your estate in trust for your children you could stipulate that they can only gain access to it upon reaching the age of 18. A will trust is any trust created by an individual’s will. It comes into effect on the testator’s death.

Trusts can perform a wide range of different functions. The following shows some of the most common family situations where trusts are often used:

  • To look after your spouse/partner after you have died, whilst at the same time making sure your children’s inheritance is protected
  • To provide for vulnerable family members, for example somebody who is disabled and may not be able to look after their own affairs
  • To protect the inheritance of beneficiaries who are bankrupt or likely to divorce
  • To protect your assets (as far as possible) from the impact of care home fees
  • To minimise the burden of Inheritance Tax (IHT).

Creating a will trust may require additional expertise, for example an independent financial advisor may be consulted where investment is required or a solicitor will assist with any life time trust creation.  Wills Worldwide can guide through the process of creating a trust to manage your legacy after your death, contact us now for more information.

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Testimonials

"For various reasons, my situation turned out to be quite complicated and I needed two wills (as advised by UK...

Jenny Pearson, Consultant, Cambodia

2018-06-05T07:59:04+00:00

Jenny Pearson, Consultant, Cambodia

"For various reasons, my situation turned out to be quite complicated and I needed two wills (as advised by UK tax specialist) to keep my English and Cambodian assets completely separate. Cindy was able to work through all of that with me and I am confident that I now have everything properly covered."
"Cindy is knowledgeable, approachable, incredibly helpful, and highly professional. She helped me to understand the implications of my requests and...

Jayne Hilton, Engineer, UK

2018-06-05T08:30:28+00:00

Jayne Hilton, Engineer, UK

"Cindy is knowledgeable, approachable, incredibly helpful, and highly professional. She helped me to understand the implications of my requests and was always on hand to offer guidance and support. All in all an excellent service."
"It was a pleasure to work with Cindy and her team! Even though planning for one’s own death is a...

Jim Swander, CEO, Cambodia

2018-06-05T08:37:50+00:00

Jim Swander, CEO, Cambodia

"It was a pleasure to work with Cindy and her team! Even though planning for one’s own death is a project we all can easily put off, it removed an area of stress in my life. I no longer had to wonder if certain people would be taken care of, or where my money would go. Cindy and I worked through the process and she asked a lot of thought provoking questions. The first draft helped me think a second layer down, and made the will more complete. We finalised with her lawyer, signed, witnessed and put away in a safe place, letting my executor know exactly where to find it. I do not hesitate to recommend Cindy’s services."
"Cindy made the process of making a Will painless and efficient which we really appreciated. She was sensitive to avoid...

Moray Iles, Vietnam

2018-06-05T08:42:23+00:00

Moray Iles, Vietnam

"Cindy made the process of making a Will painless and efficient which we really appreciated. She was sensitive to avoid putting pressure or hassle to complete the Will quickly which allowed us to consider everything in our own time. Best of all, Cindy's professional support and thorough and clear explanation of the laws pertaining to our situation were very helpful. We would look forward to working with Cindy again on documents personal to our family."
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