WillPack

Options for Inheritance Tax Planning

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Continuing from last week’s article, there are options available to the testator(s) when it comes to Inheritance Tax (IHT) planning. Some planning can simply be done by a well drafted Will, whilst others will require lifetime planning. The best approach will depend on the factors covered in last week’s newsletter. What options are available with … Read moreOptions for Inheritance Tax Planning

Disabled Person’s Trust

Disabled Person’s Trust

A Disabled Discretionary Trust (also known as a Disabled Person’s Trust or a Vulnerable Person’s Trust) can be utilised where a child or other relative has a disability. There are essentially two reasons why a trust is considered advisable for disabled beneficiaries. If this person inherits from a Will directly, their entitlement to any means … Read moreDisabled Person’s Trust

Setting up a Will-Based Trust After Death

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It has been brought to our attention that there are some misconceptions in regards to what action needs to be taken for a Will-based trust after the death of the Testator. The following article is intended to clarify these points. A trust in a Will, such as a Protective Property Trust, Flexible Life Interest Trust … Read moreSetting up a Will-Based Trust After Death

Discretionary Trusts

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The Discretionary Trust is a common Trust for a Testator to use for their children to ensure that they do not inherit directly from their estate. The reasons for this can vary, for example, protecting assets from potential divorce, drinking or gambling issues, or the testators may wish that their assets are distributed in a … Read moreDiscretionary Trusts

PPTs: Concerns with Mortgages and Equity Release

WillPack

PPTs: Concerns with Mortgages and Equity Release PPTs and Mortgages Should clients wish to use Protective Property Trusts (PPTs) in their Wills with a property that is subject to a mortgage, they should be aware that a share of the property cannot enter a PPT on first death as technically until the mortgage has been … Read morePPTs: Concerns with Mortgages and Equity Release

General Discretionary Trust

A General/Standard Discretionary Trust has a wide range of uses from protecting assets from the beneficiaries themselves, or third parties seeking money from the beneficiaries. As the assets are held by the Trust, it is out of direct reach of the beneficiaries and is not considered as part of their estate. However, for the Trust … Read moreGeneral Discretionary Trust

Disabled/Vulnerable Person’s Discretionary Trusts

The Disabled/Vulnerable Person’s Discretionary Trusts These are useful trusts to use when your client has a child or another relative with a disability and who needs constant support. If this person inherits from a Will directly, this may affect what disability benefits they may receive. We can put the assets into a Discretionary Trust with … Read moreDisabled/Vulnerable Person’s Discretionary Trusts