Family Asset Protection Trust
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Unit 7, Olympic Park, Olympic Way, Warrington, Cheshire, WA2 0YL
Monday – Friday: 09:00 – 17:00
Saturday – Sunday: Closed
Landline: 01925 859 622
Email: [email protected]
TrustDocs Training
At TrustDocs, we believe that our clients deserve the best possible service.
LIFETIME TRUSTS
What Is a family asset protection trust?
A Family Asset Protection Trust (FAPT) is a Lifetime Trust designed to protect your client’s most valuable assets from financial damages such as sideways disinheritance, bankruptcy, divorce, and creditors.
The great advantage of this powerful structure is that it protects your client’s estate while they are still alive and beyond.
Why should you offer this service to your clients?
- Your client will maintain control over their assets while they are alive and have capacity, and after their death.
- Freedom and flexibility. Even when the client places their home into a FAPT, they still have the authority to sell the property and use the proceeds to buy new ones.
- FAPT last 125 years and can be extended, giving your client the reassurance that future generations of their family will stay protected.
- Reduces tax bills. The FAPT could save your client’s descendants a significant amount of money in Inheritance Tax.
- Avoiding probate costs. In most cases, having a FAPT in place will eliminate the need for probate on the property when your client passes away if there is no debt left to pay.
- Protects assets from Remarriage/Sideways Disinheritance.
How does it work?
Our process is quiet simple:
- We send you a TrustDocs Fact Find document to complete.
- You use the fact find to record your clients information.
- You send the Fact Find and relevant ID documentation back to us
- Your documents will be drafted by our highly trained team.
- They will be carefully reviewed to ensure compliance with your wishes and sent to you for approval within 5 working days.
Why should you choose TrustDocs?
- You will only receive high-quality documents, fit for purpose.
- Our Training Sessions are carefully designed to develop your skills and support you in achieving your business goals.
- We will provide regular updates on the progress of your documents, with a consistent and regular stream of communication.
- We will train you on how to promote the FAPT to your clients.
- Our Turnaround time is as short as 5 working days.
- TrustDocs Helpline is available to you 5 days a week 8 - 8 pm to answer any and all questions you might have, via phone or email.
- You will serve your clients with confidence knowing that our supportive in-house team are always available to advise you with any queries when dealing with complex cases.
- You will be able to increase your sales opportunities and profit margins.
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FAQS
Frequently Asked Questions
How long does the Trust documentation production take?
At TrustDocs our SLA is a 5 day turnaround time for a standard FAPT. For an FAPT + this is 10 days. Note that this is only feasible if there is an open channel of communication between ourselves and those who we produce documents for, amendments can slow down the production period if the processing and understanding between both parties is clear!
What information is needed to write a FAPT?
Our team will need a completed ‘fact find’ document, which we can provide for you. We will need details of all Settlors, Trustees and Beneficiaries, including proof of identity and address for Settlors and Trustees. We will need any previous documentation established by the client and supporting documents depending on the case, such as marriage and death certificates. Any missing information will be outlined by our team, clearly and promptly.
Who will handle the land registry work?
We take care of this process at TrustDocs, with specified individuals who will handle any queries and requisitions for each case.
What happens when there are amendments required?
At TrustDocs we take care in finalising and going over each piece of documentation individually. We can amend and ensure specific wishes through our production and checking process. We are adaptable and detailed in our approach and understand that some cases require a high level of detailing and an understanding of the clients’ circumstance.
