Family Inheritance Trust
If you are concerned about how your beneficiaries might cope managing their inheritance, a Family Inheritance Trust may be for you.
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A Family Inheritance Trust can also ring fence the assets to protect your loved ones from losing their inheritance due to divorce proceedings, attacks from other creditors or to have to pay for their own care fees. It can also mean that the assets in trust can pass down to further generations without attracting any inheritance tax.
Call us today to discuss your circumstances and how a Family Inheritance Trust may benefit you!
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What risks can a Family Inheritance Trust avoid ?
None of us have the foresight to know what our beneficiaries situations will be at the time of our passing. A Family Inheritance is a very flexible form of Trust which is used to both protect assets for your beneficiaries when you pass, and also control how those assets are used.
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These are discretionary Trusts which means the trustees have discretion over how, when and for whose benefit to use all of the capital and income of the Trust fund. You leave instructions for the trustees as to how the assets are to be used.
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Protect against Bankruptcy
If the beneficiary of your Will is bankrupt or in danger of becoming bankrupt, the risk is that a gift from your estate might be paid directly to the beneficiary’s creditors and not actually benefit those you wanted it to.
Protect against divorce proceedings
Sadly, approximately 42% of all UK marriages end in divorce. The Family Inheritance Trust protects the assets by holding them in trust for your loved ones. As the assets aren't named outright they can't be named in any court proceedings.
Protect against care fees
Don't let your hard earned life's work end up the wrong hands. As the assets are left in Trust, your loved ones won't own them outright, so won't be forced to spend their inheritance to fund their own future care fees.
Protect against Generational Inheritance Tax
With a Family Inheritance Trust the assets do not fall directly into the beneficiary’s estate, so further taxation charges will not be applicable to these assets on the beneficiary’s death.
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Call us today to discuss your circumstances and how a Family Inheritance Trust may benefit you!
Mrs T.E. London
“When making my will my anxiety levels shot through the roof however I think I struck lucky with FMS Wills and Estate Planning, they made the whole process manageable and I started to feel confident and on top of what I was doing. Nothing was too much and his patience and expertise was amazing. Thank you so much FMS Wills and Estate Planning for the understanding and kindness you communicated throughout this whole process. I would highly recommend this service to everyone. Thank you, thank you, thank you."
Mrs A. Stevenage
"I found Family money savers very helpful everything was explained fully and clearly understandable. It was also done in a professional way we would recommend them
Thank you FMS Wills and Estate Planning for your work on our behalf"
Mr & Mrs H. Haverhill
“We did our Wills and LPA’s with Family Money Savers Ltd they made a very complicated looking job very easy by explaining everything very clearly and being very patient as we took so long to do everything, I highly recommend this company”