Creating a Trust is a way of protecting a vulnerable beneficiary. Your Trustees look after the assets for the benefit of the vulnerable person, and can choose when to pay out some or all of the assets to the beneficiary.
A trust in your Will comes into effect when you die. Or you can create a trust during your lifetime. The type of trust used will depend on what you want to achieve.
A trust can be used to:
- Potentially mitigate care home fees (although this does not work in every case – please contact me if you would like further information)
- Ring fence assets for children from previous relationships.
- Provide money for a disabled family member, without affecting their entitlement to benefits.
- Protect a wealthy widow or widower from potential predators.
- Protect assets where the beneficiary is a spendthrift
- Provide for children under the age of 18.
- Ring fence assets for future generations, or to skip a generation.
- Allow flexibility as to how your assets are distributed in future
The costs of creating a Trust will vary, depending on what you want to achieve. Please give me a ring to arrange a no obligation visit, where I can discuss the options with you.
I contacted alh legal to assist in the preparation of mirror wills for me and my wife. I was concerned about finding a suitable professional to interpret our wishes. We found the appointment in our home very useful as we had information at hand should it be required. There are additional services available, should we require them. We would certainly recommend your services to others, as you were friendly, professional, knowledgeable and the results were well presented.