Trusts

Protecting and safeguarding assets for the future
There are many reasons why a Trust may be appropriate for your needs in protecting and safeguarding assets for the future

  1. Property Protection Trust (PPT)
    If you own a property with another person you will either own the property as ‘joint tenants’ or ‘tenants in common’. On death if you own the property as joint tenants the property will automatically pass to the survivor however if you own the property as tenants in common your distinct share of the property can be distributed according to your Will and put into Trust for future beneficiaries while safeguarding the rights of the surviving person to continue to reside in the property. This is particularly important for couples with children from a previous relationship and avoids the accidental disinheritance of your children.

  2. Discretionary Trust
    A Discretionary Trust in a Will provides for specific assets or your total estate to pass to named Trustees to hold for the benefit of a class of beneficiaries.
    A letter of wishes will accompany your Will which sets out how you wish the Trust assets to be distributed, this letter will not be legally binding on the Trustees but in practice it is usually followed.

  3. Vulnerable / Disabled Persons Trust
    Sometimes it is necessary to set up a Trust to safeguard the interests of someone who needs help in running their own financial affairs. The trust provides you with the opportunity to appoint your own Trustees to look after that persons interests.