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PROTECTIVE PROPERTY TRUSTS: A pair of ‘Protective Property Trust Wills’ offer the most usual form of protection against losing assets to pay for any future ‘Care Home Fees’. Quite simply instead of a spouse leaving their home to each other on the 1st death the first person to die’s share of the property goes into a ‘Protective Property Trust’ the ultimate beneficiaries are normally the children. This legally protects the deceased persons 50% of the home. The surviving spouse can remain living in the property or move in the future if required. See the video 'Long Term Care'
NOTE: We can write for you a pair of 'Protective Property Trusts' Wills that include 'Bloodline Trusts' Please ask.

DIVORCE OF YOUR BENEFICIARIES: What if you die then your children divorce? most people think their existing Will provides protection for their children’s inheritance but in reality this is rare. It’s an important part of Will planning that is often overlooked. You would assume that having left everything to your children your estate would then pass down to your grandchildren. But if you read your Will closely, you’ll see that your grandchildren will only inherit if their mother or father dies before them. Your grandchildren may, in fact, get nothing. You can make sure that doesn’t happen and your children (then their children) keep their inheritance for their use only by placing your funds into Trust.

With a BLOODLINE TRUST WILL your children will have complete access to the money held within it. It is what we call ‘hostile third parties’ who won’t be able to gain access to the Trust. Without a Bloodline Trust Will you could be leaving money to one or more of the following:

An ex son-in-law or daughter-in-law
Future new stepparents to your grandchildren
Someone else’s grandchildren

NOTE: We can write for you a pair of 'Protective Property Trusts' Wills that include 'Bloodline Trusts' Please ask.

MARRIAGE AFTER DEATH: What if you die then your partner remarries? If your partner remarries and then gets divorced half of your money you have worked hard for could go to someone you don't know and eventually their children. Worse still if your partner remarries and then dies their new partner could get everything.

FLEXIBLE LIFE INTEREST TRUST (FLIT): This Will is used to give a spouse income from your estate for the rest of their life but ultimately your beneficiaries (normally your children) benefit from the capital, this is a very simple explanation but this type of Will is sometimes called the 'Rolls Royce' of Wills because of its flexibility and the advantages it has from an inheritance tax point of view and protection of your money from care fees and the future marriage of a spouse.
NOTE: We can write for you a 'Flexible Life Interest Trust' Will that includes a 'Bloodline Trust' Please ask.

Other Specialist Wills

RIGHT TO OCCUPY: This gives you the ability to give a spouse, partner, family member or friend the right to remain living in your property for a stated period of time or their lifetime if you die. Or if you wish you can include that the trust ends if they remarry or cohabitate as husband and wife with another, the trust can then be ended and the property then passes to your chosen beneficiaries.

DISCRETIONARY TRUST: These Wills can be used for various scenarios, the Trust fund (what you leave in it) is controlled by the trustees you appoint, they hold the money and use it at their discretion to the benefit of the beneficiary or multiple beneficiaries. Situations where you may use this type of will include;

Setting up a Trust fund for a disabled person
Setting up a Trust fund to protect a spendthrift child
Setting up a Trust fund for a bankrupt

With this type of Will you would write a personal letter to your Trustees called an 'Expression of Wishes' this letter would be a 'guide' but only a guide to your trustees as to how you would wish them to act on your behalf after your death.

Richard Woodward & Associates

Will Writing Specialists

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