TRUSTS

It is a common misconception that a Will ensures that the assets you have worked so hard to acquire during your lifetime, are passed onto children and chosen Beneficiaries after your death. A Will can only dispose of the assets that you own at the date of your death; if the value has eroded during your lifetime, the Beneficiary will obtain what is left. A Trust ensures that even during your lifetime your assets are protected against any third party threats.

Property Protection Trust:

A Property Trust can only be created whilst both partners are alive and hold property as
‘Tenants in Common’. The Trust instrument is then included in both Wills but does not come into force until after the death of the first party.
At this point their share of the property – typically 50% – is placed into the Trust for the benefit of their chosen beneficiaries, while the surviving partner remains living in the property. On the partner’s death the Trust ends and the property passes to the beneficiaries.

Lifetime Trust:

A Lifetime Trust enables you to put your property and/or other assets in Trust whilst you are still alive. You will also retain full control of the asset(s). Following your demise, the Trust and its contents pass down to the beneficiaries of your choice, allowing future generations to inherit via Trust Law.
Minerva Estate Planning offer specialist advice on why a Trust may help you and your family and which is the right Trust for you. Lifetime Trust work is carried out by one of a panel of independent Solicitors to ensure it complies fully with current legislation.