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Protecting your family`s assets – Will them to have the actual funds themselves. This could be for a number of reasons, planning solutions
such as beneficiaries going through divorce or bankruptcy, having medical issues and protecting their means tested benefits, and succession planning across the generations. Again, well planned Wills can provide for this.
There are steps that can be taken in carefully drafted Wills to ensure that your wishes will be followed, even if there were changes in your family`s circumstances after you made your Wills, and also to protect your family`s assets. I will share some of the following Will planning Trusts solutions over the next few editions: Much of this planning is carried out by trusts. Trusts are essentially vehicles where assets are Asset protection Inheritance tax, and especially care fees, are looked after by your chosen trustees on behalf major concerns for many people who want to of your beneficiaries. They offer protection and leave as much of their assets to their family or flexibility and can be an important planning tool for protecting family assets. Planning with friends as possible. This can be achieved. trusts does require specialist and experienced legal advice. More complex family arrangements You may wish to provide for your other half during their lifetime, but make sure that your assets If you would like to discuss matters, please will then pass to your children from a previous contact me on iain@wanstallconsulting.co.uk or 01296 415700 or via Facebook. relationship. Again, this can be achieved.
Vulnerable beneficiaries
There may be times when you want to provide for people (your beneficiaries), but do not want
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Wendover News July 2020
17
