Trusts
Trusts are a vehicle to protect beneficiaries, assets and can assist with tax planning. When a trust is created, trustees are appointed to become legal owners of trust assets and beneficiaries are nominated to benefit from income and capital derived from the trust assets.
At Welland Valley Legal we offer two trust services:
1. Trust created in your Will
2. Trusts created in your lifetime
Trusts created in your Will can be used to safeguard 50% of the capital of your property against care home fees. The same type of trust is used to protect children from previous relationships. These are called life interest Wills.
Discretionary Trusts are set up either in your lifetime or in your Will. These types of trusts have greater flexibility on who may be the beneficiaries and are particularly beneficial should you have vulnerable beneficiaries, extensive wealth or own a business or farm. They are also used to protect against divorce and bankruptcy.
We will unravel the legal complexities of trusts for you, explaining them clearly and concisely to ensure that you fully understand the mechanics of a trust, it’s benefits and any implications you may need to consider.
A trust should be considered if you have vulnerable beneficiaries, extensive wealth, a business, farm or children from previous marriages. They can also be used to safeguard 50% of your property against care home fees.
Life Interest Will (single) - £550 + VAT
Life Interest Wills (double) - £900 + VAT
Discretionary Trust Will (single) - £750 + VAT per Will
Discretionary Trust Will (double) - £1050 + VAT per Will
Lifetime Discretionary Trust - £1850 + VAT
Letter of Wishes - £150 + VAT
Other Services
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