Property Trust Will
For Families in Rushdon and Northamptonshire, Cambridgeshire, Befordshire and surrounding areas.
What is a Trust Will?
A Trust is a legal structure which can be included as part of your Will, and can offer increased asset protection for your loved ones.
Our Trust Experts can help you protect and manage your assets now, and for the future.
We recommend that you consider the benefits of setting up a Trust as part of your Will.
Sharpe’s Wills offer a comprehensive range of Trust Wills to include the following:
- Family Discretionary Trust Wills
- Interest In Possession Trust Wills
- Property Protection Trust Wills
- Business Trust Wills
Trust Wills are usually used in these circumstances:
- You wish to protect your estate and property against possible care fees in the future
- You have a spouse or partner but children from a previous relationship
- You wish to leave some of your estate to a vulnerable or disabled person
- Give a partner the right to live in your property whilst making sure your children inherit the property in the future
We can help you set up a Trust to:
- Make sure your children inherit your house
- Safely pass on assets to the next generation
- Fund education for your children and grandchildren
- Provide for vulnerable loved ones
- Provide for children and partners from different relationships
- Reduce inheritance tax payments
- Protect assets from creditors or divorcing partners once children receive inheritance
We understand that every person’s financial and family situation is totally unique.
Our Experts in Northamptonshire will work closely with you and provide a bespoke plan, engineered to your individual needs and requirements.
How do Trust Wills work?
Typically, when making a Will, you name people that you would like to receive your estate when you die, known as your Beneficiaries.
However, there may be circumstances where you would prefer that your estate doesn’t go directly to the beneficiaries when you die, but rather, that it is held on behalf of those beneficiaries in a particular way.
The people holding the assets on behalf of the beneficiaries are known as your Trustees. Trustees are nominated within the Will to administer the Trust on your behalf.
What are the Types of Trust Wills?
The three types of Trust Wills are: Property Trust Wills, Interest in Possession Trust Wills & Discretionary Trust Wills.
Property Trust Wills (also known as Life Interest in Property Trust Wills)
A Property Trust Will, sometimes referred to as a Protective Property Trust, can provide greater peace of mind if you own a property and wish to best protect its value for future generations.
Your share of the home is gifted to the trust, which allows any spouse to carry on living in it. Or any other individual you wish to have the right to live in the house while ensuring children get the property when the surviving spouse no longer needs to use the home.
This prevents your children missing out on their inheritance through marriage after death or long term care home fees in the future.
Benefits of a Property Trust Will
- Guarantees who benefits from your share of the
property if your surviving partner
remarries after you pass away (marriage automatically invalidates any existing Wills)
- Writes a new Will after your death, changing their original wishes
- Can help reduce the potential impact of residential care fees on the property value for the benefit of future generations
Discretionary Trust Wills
(also known as Family Trust Wills)
A Discretionary Trust Will allows you to appoint trustees to manage inheritance on behalf of vulnerable loved ones who require assistance.
Benefits of a Discretionary Trust/Family Trust Will
- Guarantees that vulnerable people are given assistance in the management of their inheritance
- Can help unmarried couples with Inheritance Tax planning
- Reduces the risk of state benefit entitlements being compromised by the receipt of inheritance
- Prevents the inheritance you leave your children being lost through a divorce to their current partner
Costs of Setting Up a Trust Will:
- Single Trust Will £280
- Mirror Trust Will £450
Our specialist team, locally based in Northamptonshire, can advise on any of these Trust options, and help you choose the most effective arrangements to best serve your beneficiaries.
While you can draft a declaration of trust yourself, Trust law is complicated, and the document must be very carefully worded to protect your assets as intended.
There are 4 simple steps to completing your Will with us.
1. Book an appointment
Call us on 01933 588 016 or complete the following form and we will call you back to arrange a time that suits you. We will also provide you with the things you will need to consider before the appointment.
2. Discuss your circumstances.
During your appointment, we will discuss your circumstances and wishes you would like to include in your Will. This typically takes 30-45 minutes.
3. Review the draft.
You will receive a draft of the Will to review to ensure you’re happy and understand the contents. You may have some questions we will help answer and make any required revisions.
4. Sign and complete.
Once you’re happy with the Will, sign it to make it legally binding.
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What our Clients say…
Accredited & Qualified Will Writers.
Where we operate.
Do you live in or near the following towns or counties?
- Higham Ferrers
- St Neots
Even if you’re not in our local vicinity, we can still help ensure your peace of mind with our estate planning services. Get in touch today.