A typical example might be to allow you to provide for a spouse or partner after you’re gone while ring-fencing certain assets to ultimately pass to your children. This type of structure can offer peace of mind to individuals who wish to ensure their spouse or partner has access to funds if they are the survivor but to also ensure that some assets do not pass to them in order to guarantee they will go to the children.
Will Trusts can be used to protect assets from passing outright to children who are either too young or in a vulnerable position for whatever reason. This might include children who are embarking on difficult life journeys, such as a divorce.
Trusts are a valuable planning tool for couples in later life where one party becomes incapable of living independently and requires a care package at home or in a nursing environment.
In the right circumstances, a trust can also provide both protection and inter-generational planning opportunities for family members. Our solicitors will advise what is right for you and your family.