The importance of Trusts
8th February 2019
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Did you know that marriage after death is one of the main causes of wealth leaving the family line?

Many of us have taken the time to write a standard will, and in most cases this will state that their wealth is to be left to their spouse and then to their children. But sometimes life doesn't turn out this way. 

An example of this is if you were to pass away and your spouse was then to remarry and even starts - or marries into - another family. If your spouse then passed away, could you guarantee that your hard-earned cash would reach your own children?

In this case you would be completely reliant on the good nature of someone you may have never even have met!

This is where placing your funds into Trust is an ideal answer. In this case your Will distributes your wealth to a Trust where the named beneficiaries and their descendants are the only people who will benefit from it. This means that should your spouse pass away, only your children who are next in line will benefit from the Will, not the new husband or wife.

It offers the ultimate protection for your children. The funds in the Trust are also out of the estates of the beneficiaries, which means they are protected from a number of different scenarios - that could be your children’s divorce, their creditors, their own remarriage, their care costs in later life, even their own inheritance tax assessment.

Ensure your money and property stays in the family line for the future. An excellent way to add wealth protection to your Will is in the form of a trust or two. 

MVL Wills and Trusts Ltd of Battle near Hastings can put in place a bespoke Trust-based estate protection plan to suit your needs. Contact estate planning advisor Andrew Mathias either for a free consultation at their offices or in the comfort of your own home. Or call or email for more information on 01424 577070 and info@mvlwillsandtrusts.co.uk.

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Cale

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Cale is the Owner of 'thebestofHastings', the award winning franchise, providing integrated marketing solutions to SMEs, connecting to the Hastings community and promoting local events in 1066 Country....

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