WillPack

How is a Property Protection Trust (PPT) Taxed?

How is a Property Protection Trust (PPT) Taxed

Many queries we deal with at WillPack concern tax. Often, we are asked what can be done when drafting the Will to mitigate tax. This article will deal with the issue of tax from a slightly different perspective, setting out the tax consequences of a Property Protection Trust (PPT) once the testator has died and … Read moreHow is a Property Protection Trust (PPT) Taxed?

Reasons to Use Protective Property Trusts

Reasons to Use Protective Property Trusts

What are Protective Property Trusts? Protective Property Trusts (PPTs) are one of the most widely used trusts in wills today. The trust will usually take the deceased’s share in their main residence and give another person known as the life tenant (usually a surviving spouse or civil partner) a life interest in the property. This … Read moreReasons to Use Protective Property Trusts

Jointly Owned Property and Attorneys

Jointly Owned Property and Attorneys

It is fairly common for married couples to want to name each other as sole attorneys in their Property and Financial Affairs Lasting Power of Attorney (LPA). Whilst there is nothing wrong with this appointment, clients should be advised that naming the spouse could cause some difficulties where the couple own land jointly with each … Read moreJointly Owned Property and Attorneys

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

September News! Round 1

The first edition of September’s Newsletter.

If you’re one of our members and you’re looking for more clients then give us your details and we can share them more often on our growing social media.

Click through to find out what we’ve been talking about these past two weeks.

Commercial LPAs. What they are and what they do!

Commercial LPA Many business owners, partners and directors may not consider what would happen to their business should they be unable to make decisions for their business in the case of their mental incapacity, or if they plan on leaving the country for a long period of time. The answer could be an LPA. For … Read moreCommercial LPAs. What they are and what they do!

Introduction to Guardianship

Appointment of Testamentary Guardians The appointment of testamentary guardians is rarely considered by parent, but it is highly desirable that they should consider who should look after their children if both were to lose their lives while their children are under eighteen. The appointment of a testamentary guardian can only be made by a person … Read moreIntroduction to Guardianship

Flexible Life Interest Trust

Flexible Life Interest Trust  Due to more complex estates and greater wealth, greater flexibility is essential to cope with any future changes to the family structure (such as new family members) and changes in the tax regime. The best way to gain the maximum flexibility is by the use of a Flexible Life Interest Trust … Read moreFlexible Life Interest Trust