WillPack

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

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

Could Changes to the Taxation of Pilot Trusts Affect You?

Following the Chancellor’s Autumn Statement at the end of 2014, legislation is now going through parliament which aims to limit the use of ‘pilot’ trusts. Pilot trusts are an accepted form of Inheritance Tax (IHT) planning, commonly used to reduce the impact of the special IHT regime which applies to trusts, known as the ‘relevant … Read moreCould Changes to the Taxation of Pilot Trusts Affect You?