Additional Will Services
Setting up Trusts in your Will.
Establishing a Trust in your Will can be extremely valuable in Estate Planning terms for a number of different reasons. When it comes to protecting assets and controlling the distribution of your Estate, Will Trusts are essential and we provide a variety of different solutions depending upon your objectives.
Despite changes in Taxation policy in October 2007, there are still very valuable reasons for establishing Trusts in your Will. Furthermore having certain assets ring fenced in a Trust environment can ensure that your children are not disinherited through remarriage after your death, and therefore ensures that they are protected from subsequent divorce settlements too. Should a surviving partner become infirm and need to go into long-term care, funds in Trust would not feature in terms of Local Authority means testing.
In terms of saving Inheritance Tax, by putting funds into a Trust on your death, you can ensure that your children benefit without running the risk of the fund creating an additional Inheritance Tax burden in the future. In addition to Will Trusts we offer a variety of lifetime Trusts such as Discretionary Trusts (Relevant Property Trusts) and Interest in Possession Trusts. Redstone Wills are also able to act as a Professional Trustee so that we can administer the schemes that we set up for clients.