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Trusts (Bloodline Planning)
Trusts (Bloodline Planning)
How can I protect my children's inheritance?
Without the correct "Bloodline Planning" some, or all of your children's or grandchildren's (bloodline's) inheritance could be lost.
Protecting your inheritance for future generations is commonly referred to as "Bloodline Planning".
Bloodline Planning is ensuring that your assets reach your children, grandchildren and other relatives, rather than ending up in the wrong hands!
When assets are distributed to beneficiaries "absolutely", (i.e. they receive cash, property or other assets as a direct lump sum payment) so much can be lost.
These assets are then considered to be part of the beneficiary's estate and would be at risk of attack from any future divorce settlements, creditors and taxation.
The strategic use of Will Trust and Life Time Trusts can ensure that your children and grandchildren are able to benefit completely from the inheritance you want them to receive and at the same time, protect the family home and other assets from being lost to the costs of Long Term Care.
Assets not protected by a Trust face attack from...
• Distributing assets absolutely to beneficiaries exposes those assets to risk.
• Costley Probate Fees
• Creditors or Bankruptcy claims.
• The Divorce or separation settlements of future generations.
• Further Inheritance Tax bills.
What is a trust ?
Assets not protected by a Trust face attack from...
- An elderly relative losing capacity is difficult enough for loved ones to deal with, without the added worry that finances are becoming muddled
• Having someone you know and trust and more importantly understands you, to manage your affairs, is far preferable than a court official.
- Creditors or Bankruptcy claims.
• Further Inheritance Tax bills.
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( BLOODLINE PLANNING)
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ABOUT US
Harratts Legal Services are a family run Estate Planning company. We specialise in Wills, Lasting Powers of Attorney and Estate Planning.
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