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Legal advice for trusts in Leicester

Do you need legal assistance to establish a trust? Contact Paradigm Wills & Legal Services.

PROTECTIVE PROPERTY TRUST

The Protective Property Trust gives spouses or partners a life interest in each other’s estate.

DISABLED PERSONS & VULNERABLE PERSONS TRUST

A Disability Trust is a must have for anyone who has disabled children and who is concerned they may not be able to manage their own financial affairs.

FLEXIBLE LIFE INTEREST TRUST

The Flexible Life Interest Trust is ideal for high net worth clients and helps plan against IHT planning.

ASSET PROTECTION TRUST

The Asset Protection Trust is the Rolls Royce of Trusts. This trust is a living trust, meaning assets or properties are transferred into the trust immediately.
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PILOT TRUST

This is another type of living trust and is a tool to put monies away for things such as university fees. With the Pilot Trust, you can lock away money for your children until a specified age. It can also can be used for IHT Mitigation. Your maximum nil rate band can be £325,000.

Seven years later, you can set up a new Pilot Trust and reuse your nil rate band again. This can be a useful tool for IHT planning as you get access to more than one nil rate band with it. You can break the trust and get hold of this money if you need to. This suits cash rich clients.
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NIL RATE BAND DISCRETIONARY TRUST

The Nil Rate Band Discretionary Trust is rarely used nowadays. After the changes in rules made in 2006, a spouse can automatically transfer their nil rate bands. However, this can still be effective for unmarried partners to get access to 2 nil rate bands and can be used for IHT mitigation.

Also, if a widow has already had access to a nil rate band from their deceased partner, and later remarries, they can get access to an additional nil rate band through this trust.
In addition to creating trusts, we also provide will writing and advice regarding probate laws.

RIGHT TO OCCUPY TRUST

The Right to Occupy Trust is just to state that the deceased person would like a person to remain in the main residence or any other residence for a certain number of months or years before it can be distributed as an inheritance. For example, if Mr and Mrs have one of their sons living with them at the time of death, their son who is living with them cannot be forced out of the house for the time specified with the help of the Right to Occupy Trust.

This way they will not be homeless and would have adequate time to make the necessary living arrangements. The time specified in these trusts can be from 6 months up to how many ever years you wish.

“Very friendly and professional.  Provided great advice, some of which I was not aware of, like how my kids can inherit, etc. They were much cheaper than Solicitors and only charged for the service I wanted and not their time as I had lots of questions. Highly recommended.” – Daksha Dholakia

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