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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.

 

"Although we didn't think our financial affairs or family arrangements were particularly complicated, Gina talked us through all the things we should consider to ensure what we put in place was right for us and our family. She is clearly very knowledgeable and gave us lots of advice and guidance and explained everything so we understood the implications of our decisions. The paperwork was drawn up quickly and accurately based on our discussions. She also helped my parents with their estate planning. She reviewed their current arrangements and has drawn up lasting Powers of Attorney for them both. Again, everything was explained clearly and sensitively and I know my parents are also very happy with the service they received. I would happily recommend WillWritten to anyone considering making a Will or looking to review their estate planning. "

Amanda Rudham

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