Key Features & Benefits:
- Your beneficiaries do not need to obtain probate for any assets held in Trust
- Saves your beneficiaries thousands of pounds in unnecessary costs, delay and hassle free.
- The owner, known as the ‘settlor’ of the Trust, always maintains control of the Trust.
- The Trust is only inherited by the beneficiaries once ALL the owners (settlors) of the Trust have passed away.
- Minors (children) inherit at the right time.
- The assets held in Trust are protected for your beneficiaries against bankruptcy, divorce or other unforeseen circumstances.
- Avoids sideways disinheritance, situations caused by second marriages (Wills are automatically cancelled in the event of a second marriage.)
- There is still the flexibility to sell your home or move home, as you choose.
- The residence nil rate band (also known as RNRB) is preserved, even if you downsize.
- There are inheritance tax benefits – Assets held in the discretionary fund leave your estate for inheritance tax after seven years.
- There are no ongoing costs or charges for this Trust – On the passing of the ‘settlors’ (owners of the Trust) there are no additional costs in regarding to the selling of property.
Please contact us to arrange a free, no obligation consultation.