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As you will know, families of today are generally more complex that in the past. Sadly, with the divorce rate at its highest for decades, there is more need for a creative solution that will lead to assets staying in the family bloodline. At Foresight, we provide proven solutions to protect assets from a range of possible outcomes. There is nothing more irksome than a child who has been disinherited due to mother or father remarrying! This need not be the case as we have worked tirelessly with some of the UK’s leading trust corporations to come up with very good solutions.
To demystify the concept, you might find it helpful to picture a trust as your own personal ‘safety deposit box’ in which assets can be sheltered and maintained for the use of others; be it your spouse, child, grandchild or any other family member or friend. A trust can be an inclusive part of a will to come into place after death or can be something we construct during your lifetime. The benefits of a trust a wide ranging although some of the most common uses are:
Trusts can also become part of a useful inheritance tax planning tool or for the protection of assets for vulnerable beneficiaries, for example minors, those that are registered disabled, or those who may not be able to handle money well. These solutions can be alternatives to gifting large ‘lump sums’ sheltering assets until your child comes of age or becomes more responsible. One of our trained Estate Planning Consultants will be able to give you more details on request.
To talk to a Foresight advisor or make an appointment please call 01603 268080 or email firstname.lastname@example.org.