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Family Asset Protection Trust
Do you have a child who is due to marry someone you really don’t trust or with whom you have certain reservations? Whatever your concerns, A Family Asset Protection Trust is the most effective way to protect your home from 3rd party claims. People set-up Family Asset Protection Trusts for very different reasons. Trusts are a protective mechanism to hold your assets and could save you and your family many tens of thousands of pounds for a variety of reasons:
Prevents your assets from being accessed by beneficiaries’ creditors.
Claims against your estate.
Reduces probate costs.
Allows Trustees to manage the property if you are incapacitated.
Divorce of a beneficiary and assets being given to ex-spouse.
Avoids possible cascading inheritance tax.
Whatever life throws at you, a Family Asset Protection Trust will ensure your assets are passed on intact, to the right people. You cannot always control what your children do, but can always have a contingency plan.
It is important that this type of planning is done early and well in advance. With Perfect Wills & Estate Planners you can trust you will be given the right advice, securing the fruits of your labour for you and generations to come.
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Mr. and Mrs. Brown – Family Asset Protection Trust
Mr. and Mrs. Brown were on their second marriage and had a £450k house. Mr. Brown had put in £300k and Mrs. Brown had put in £150k and they were joint owners. He had two children from his first marriage and she had a daughter. By putting their respective shares of the house into trusts for their children, it ensured both could live there till they died, both families were protected and the house avoided probate, saving thousands.
“Steve, thanks for sorting out Mum and Dad’s situation. We’re all assured of our inheritance now, no arguments and no fuss.”
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