Safeguard your legacy in the way you chose
Leaving something behind for our loved ones is something that most of us aspire to do. We work hard to acquire property and other assets and often document these in a Will to be distributed according. However, despite this care and hard work many of us are having our assets taken during our lifetime to pay for care while Inheritance Tax makes further inroads into our estate. The end result can be substantial estates whittled away with little left for our loved ones.
What is a Family Trust?
Precision Financial can offer expert advice on setting up a Family Trust, helping to protect your assets while you are alive. Putting your home and other assets into trust can be an ideal way of mitigating tax issues as well as preventing your assets being sold to pay for your care.
Family trusts are becoming increasingly popular as more homeowners are having their assets being caught up in Inheritance Tax rules, the number paying this tax a has almost doubled in the last 15 years. There are different trusts available such as asset trust, property trust and child’s trust; each offering a range of benefits.
The Benefits of Trust
• Ensure that your assets are not be taken during your lifetime
• Protect family members as you see fit
• Avoid getting caught up in probate fees and delays
• Reduce inheritance tax and benefit loss for children and grandchildren
• Avoid inheritance being considered as part of a divorce settlement
• Secure the family assets against unexpected future creditors such as the family property trust
• Help family members with grants or loans
Simpler than you think
With our help setting up a trust need not be complicated or overly expensive. We will help you move money out of your estate and reduce your Inheritance Tax bill. We can also advise on what other assets can be held in trust such as investments, life insurance policies and death in service benefits.
Speak to us today to find out how we can help protect your assets and give you the peace of mind that your hard work deserves.