Asset Protection Trusts in Leicester & London
Many clients are concerned about protecting their estate to ensure that all their assets will ultimately pass to their children or their chosen beneficiary and cannot be eroded by any means either before or after their demise. The erosion could occur in many different ways. For example: if a spouse was to remarry in the future, their assets and any inherited from a deceased spouse could pass to the new spouse rather than to the children of the family. There could also be post-death attempts to upset the terms of the Will by a disgruntled family member who is unhappy about the distribution of the deceased estate under the terms of the Will.
The use of an asset protection trust structure can solve these problems and give comfort to the clients who are concerned about the necessity to obtain a Grant of Probate following death, and the cost and possible delay involved which can be avoided if a trust is used. Another benefit of using this trust for estate planning purposes is that all assets held within the trust can be protected for the impact of long-term care fee and put the control with you.
Benefits of Asset Protection Trusts
- Throughout your lifetime you retain the full benefit of all assets within the trust and as you have the power to appoint and remove the trustees, you retain control in this way. Whilst you are living in the property, the enjoyment of the property is your benefit.
- Probate will not be needed for the assets in the trust, which could save your family money in probate fees.
- Property can be passed on after death without delay.
- You control who inherits jointly owned assets in the event of the surviving partner remarrying.
- Assets can be dealt with by those you trust in the event of your incapacity.
- You retain control of your assets until death or incapacity.
- Put the control of losing your home to pay for cost of care in your hands.
- Guarantees an inheritance for your loved ones.