Flexible Life Interest Trust – An Ideal Solution for Blended Families

A Flexible Life Interest Trust is very useful for blended families, where the testator is concerned about their partner leaving assets to future children or step-children after their death. It can also be used to potentially reduce inheritance tax. As it is New Year and we all need cheering up – here is a fairy story to illustrate my point: Snow White’s father (Mr White?) realises he made a mistake by marrying his second wife. He wants her to be comfortable after his death, but does not want her to inherit his £5million estate. In his Will, he places all
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The Protective Property Trust – Protect your assets for your children

Imagine the following family situation: Fred and Wilma, a happily married couple, one daughter, Pebbles. They want to make mirror Wills leaving all to their daughter Pebbles when they die. However, I point out to them that, if Fred dies young, Wilma could fall in love with (say) Barney, who has a son Bam Bam. She could change her Will to dilute Pebbles’ share. A similar situation could arise if Wilma died young. What would be the solution? A Protective Property Trust. Here is how it works A Protective Property Trust is a Trust that is put into the Wills of a couple so
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What is a Trust and do I need one?

A Trust is a legal arrangement in which a person (the Settlor) transfers the ownership of some of his or her assets to one or more Trustees, who manage the assets on behalf of one or more Beneficiaries (who will receive the assets or income). There are many reasons why this would be done: The Beneficiary is under age and therefore too young to handle their own affairs The Beneficiary has limited mental capacity to be able to handle their own affairs To control and protect family assets To pass on assets while you’re still alive To protect family’s assets
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