There are many benefits of using a Trust as part of your Legacy Planning that a simple Will alone wouldn’t provide. Trusts can protect against:
- your assets being shared with a new partner and their family if you or your spouse re-marry
- beneficiaries inheritance being used as part of a divorce settlement
- inheritance being seized by creditors.
- your children’s inheritance going to a new family if your child dies and their spouse remarries.
- inheritance being used as part of an assessment for means testing.
- If a beneficiary is young, a vulnerable adult or struggling with addictions, their inheritance can be released in stages.
- It’s the most robust way to ensure that any challenge to your Will would be unsuccessful
- your beneficiaries can have instant access to inheritance for assets within a Trust