By drawing up a Family Asset Protection Trust you are putting your assets into a trust that is in your name and for your benefit whilst you are living. As a result, you can ensure your assets pass to the people you choose after your death, according to the terms of the Trust. There are important advantages of this, one example being assets passed on to unreliable beneficiaries such as minors can be protected by the Trust until an appropriate time. Another is that If you have children from a previous relationship or marriage that you would like to ultimately benefit, then the Trust can be used to protect their intended inheritance. Under certain circumstances, a Family Asset Protection Trust will protect your property from being eroded by probate costs or if residential care is needed in later in life.
How can we help?
To avoid possible problems or challenges later, proper advice is needed in the area as there are things to be aware of regarding each individual's circumstances. We will assess your situation and advise on the suitability of a Family Asset Protection Trust accordingly. Remember that you are always in control and should you wish to change the terms of the trust at a later date you can do this.