Lifetime Trusts

Wills

Putting assets in Trust during your lifetime is the ultimate way of protecting them.

Living Trusts are more expensive than Will Trusts but they have additional advantages. Will Trusts only become effective when a death occurs. Living Trusts are up and running while you’re still alive. This means all the benefits of Trusts can help you (the settlor) while you’re still alive.

About Wills:

Your Choice of Trustees

When you set up a Trust, you are free to appoint whoever you like as trustees. People often choose close family members and friends. You can also be a trustee of your own Trust. To make doubly certain that your wishes will be followed, you can appoint a professional trustee such as a solicitor. And while you are still alive, you have complete freedom to add or remove trustees.

Assets

People most often put property into a Lifetime Trust, but you can include pretty much anything you own, from investments to cars, boats, and even paintings. You can add more than one asset type – the most crucial aspect is the overall asset value.

Family Asset Protection Trust (FAPT)

This Trust could be suitable if your house is worth less than £325,000 or if you own a house jointly and it’s worth under £650,000. If the value is about this figure, you would have to pay an immediate inheritance tax charge.

Family Asset Protection Trust Plus (FAPT+)

Our most popular Trust avoids the 20% Trust entry charge, even if your house is worth over £325,000 (£650,000 for a couple). For large estates, the FAPT+ has a very valuable feature – the ability to claim an inheritance tax relief.

Wishes

Without a Will, when you’re gone your wishes won’t be considered. The legal rules of intestacy take over, which can lead to unintended consequences and cause stress and disagreements among family members. Having a Will gives you peace of mind that your gift will go to your loved ones. It’s a simple way to make sure your wishes are honoured.

Single Wills

A single Will is created by one person and outlines their individual wishes for how their estate should be handled after they pass away. It’s ideal for people who are not in a relationship, or for those who have different wishes from their partner.

Mirrored Wills

Mirrored Wills are two separate but almost identical Wills, usually made by couples. Each person leaves their estate to the other, and then to the same beneficiaries (like children) if both pass away. They’re a popular choice for married couples or partners who share the same wishes.
Mirrored wills are not legally linked — either person can change their will at any time without telling the other. Both types of wills must meet legal requirements to be valid, including being signed and witnessed properly.

About Wills:

Wills

A Will sets out how you want your money, property, and possessions to be distributed after your death and allows you to appoint guardians for children under the age of 18.

We can’t predict when our time will come to an end. You’ve worked hard every day, putting in the effort to get where you are now. Ultimately, we want to share the results of our lifelong work with our loved ones. Giving the product of our life’s work as a gift is the biggest and best thing we can do – it’s everything we own. It’s crucial to make sure this is done right – by writing a Will.

Wills

Lifetime Trusts

About Wills:

Your Choice of Trustees

Assets

Family Asset Protection Trust (FAPT)