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A Modern Solution for Modern Families

A Modern Solution for Modern Families

Family Trust Will

Preserving your Assets for your Family

A Family Trust Will is a very modern, flexible will structure, which allows you to protect your assets for the benefit of successive generations of your family in turn.

The traditional one-size-fits-all approach of leaving everything absolutely to one person or class of people, wasn’t designed for the way we live our lives and love our families today.

The Family Trust Will provides the flexibility that’s needed in order to provide a complete solution.

Here are some of the ways a Family Trust Will can be of real long-term benefit you and your family: -

How it Works

When you make a Family Trust Will, the first thing you do is appoint at least two trusted people to be your executors. You might, for example, appoint your other half, your adult children, a trusted friend, your accountant, your solicitor or your business partner.

Next, you give your executors the additional role of acting as your Trustees.

Next, you leave your assets to your Trustees, to look after on behalf of your Beneficiaries.

Your Beneficiaries are, typically, your other half, your children, and the following generations of your family.

Your Trustees have virtually all the same decision-making powers over your assets as if they were full owners. The big difference, however, is that everything they do and every decision they make must be in the best interests of your beneficiaries.

This arrangement can last for up to 125 years from the date of your death, benefiting multiple generations of your family. However, it can also be brought to an end and the assets divided equally between the relevant generation of Beneficiaries, if there is a good reason to do so.

The result is that your spouse, children and subsequent generations can have access to the assets for their comfort and welfare, but because those assets are never in their name, the assets cannot be taken from them by outside claimants such as creditors, ex-spouses or the local authority.

A Family Trust Will costs £540 for a single person and £795 (less than £400 each) for a couple.

 

"I decided to get advice about making my will because I was about to travel abroad with my children for the first time in many years. My financial advisor recommended Will Written. I appreciated being able to have a consultation at home, so that I could discuss my situation in confidence. I was able to ask wide-ranging questions and Gina’s knowledge and expertise were reassuring. An estate plan was created for me that exactly suited my needs, resources, family and dependents. I have the peace of mind of having made a will that ensures my assets are safely passed to my children at the end of my life. I also have added protection if I become ill or disabled, because I have made a Lasting Power of Attorney appointing my best friend to manage my affairs if I lose the ability to manage them for myself. "

Christine J

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