If you can’t beat them, join them. The rich, that is!

One of our Partners explained recently how putting his Father’s house in trust, back in 2010, resulted in him and his siblings (the Trustees) keeping control of the property, rather than being forced to sell it, to fund their Father’s care costs.

The Trustees are able to rent out the property, and the income generated helps contribute towards the care costs. The key point is that the Trustees remain in control and have the choice of where their Father receives care.

An interesting comment was made… ‘Although Government Officials and the Aristocracy have used trust planning to preserve their wealth for generations, arguably it is more important for less affluent families to do so’  

His rationale was that an average estate (namely the residential home) could be eradicated from one or more of the following threats, resulting in there being little or nothing to pass on to the intended beneficiaries:

• Relationship breakdowns – resulting in your wealth not passing down your bloodline.
• Bankruptcy or other financial/creditor obligations.
• Probate costs.
• Passing on wealth direct – which adds to an existing inheritance tax liability.

Make no mistake – the wealthy are generally getting wealthier. This is one PROVEN way to ensure your wealth is protected against various threats, then passed on to those you intend to benefit.

Plan ahead and retain control, or sit back and let others decide what happens – the choice is yours!

To find out more:

• Talk to one of our Professional Estate Planners on 01925 859622
• Visit www.trustdocsltd.co.uk
• Email us: sales@trustdocsltd.co.uk