Tag Archives: Estate Planning

Are you close to Retirement Age or have you retired? If so protect your families wealth with a Family Asset Trust…

What will a Family Asset Trust do for you?

Family Asset Trusts and Wills - Free information pack I want to make sure the people I love are looked after when I’m no longer there to look after them myself. That’s why I chose The Will Associates.

Cheryl Baker
TV Presenter and Eurovision Winner

Why a Family Asset Trust in Wales?

Everybody wants to protect their assets for the benefit of their loved ones.  People are motivated to provide for their children throughout their lives and want what is best for them.  Many people will draft a Will hoping to ensure that the assets that they have worked hard to acquire during their lifetime, are passed on to their children and chosen beneficiaries after their death.

However, a Will can only dispose of the assets that you own at the date of your death and if the value of these is eroded during your lifetime, there will be little if anything left for your beneficiaries to inherit.

Lifetime Family Asset Trusts

Lifetime Family Asset Trusts in Wales are specifically designed to protect your assets for you during your lifetime. They give you the peace of mind that your estate can be passed on securely and intact to your spouse, your children and their bloodline, or other named beneficiaries, after your death.

Getting a Family Asset Trust is one of the most important decisions you’ll ever make.

During your lifetime

Once the Trust has been created, you can use it to ‘ring-fence’ your assets.  Most people will protect their home and their savings, leaving capital in their bank or other savings accounts for ongoing living expenses.  Income from savings protected within the Trust can be paid directly into your bank account to supplement income from earnings or pensions.

Just like a safety deposit box, assets can be added and removed from the Trust during your lifetime. If you have large expenses that cannot be met out of normal income, like a new car, holiday, or house repairs, the appropriate sum can be transferred to your bank account from the Trust.

You are named as the ‘Principal Beneficiary’ of the Trust and retain full control of the assets within the Trust while you are alive and have mental capacity. You are free to move home, or release equity from the Trust at any time.

As the Principal Beneficiary of the Trust, you have a guaranteed right of occupation in the property for the remainder of your life. The Trustees, usually your children, cannot evict you under any circumstances.

You can direct the Trustees to sell the property and to buy a new property of your choice.  If the new property you are acquiring is more expensive, the Trustees can only be required to buy the new property if the additional capital required is paid into the Trust by you.

The Trust is equally applicable to married couples and to single people.

Don’t take the risk – make sure the right people inherit your wealth.

Trusts for if you lose mental capacity

If you lose mental capacity, the law states that you are no longer allowed to manage your own affairs.  Assets held within the Trust will then be managed by your Trustees on your behalf.  Your Trustees can effectively ‘stand in your shoes’ to make decisions on your behalf but these must be for your benefit.  They are able to add or remove assets or use the income from the Trust to help you and improve the quality of your life.  Assets held outside the Trust will fall under the control of the courts. Creating a Lasting Power of Attorney will enable the people you choose to manage the assets that you own outside of the Trust.

If you go into care

If you go into care, and you do not have a spouse or dependant relative living in your home, you will need to decide whether to sell it or to rent it. If you have gone into care and have lost mental capacity, your Trustees will need to make this decision for you. If the property is sold, the proceeds will continue to be protected within the Trust and can be invested and you will normally receive the interest or income earned on the invested capital.

After your death

After your death, the Trust continues to work to protect your assets for your beneficiaries. The Trust can continue to hold the assets safely within it, or pay them out to the specified beneficiaries. The Trust is extremely flexible after your death and has the potential to continue protecting your family for 125 years from the date it was created. That means that all of the benefits described in this document can not only protect you and your children but can also protect your grandchildren and great-grandchildren.

Our trained Consultants can assess your current circumstances and recommend the products that will provide the correct protection for you, your family and your assets.

What else can our Family Asset Trusts partners offer…

Our Family Asset Trust partners are a rapidly expanding company, regularly advertising in the national press and on television, which has helped to cement their vision as a company serious about their customers’ welfare.

In addition to Family Asset Trust services they also offer many other services that help protect children, parents and properties against state interference.

Our trained Consultants can assess your current circumstances and recommend the products that will provide the correct protection for you, your family and your assets.

What areas of the UK do we provide our Family Asset Trusts services to?

We can provide Family Asset Trust services to people in Wales as well as South West England, South East England, West Midlands, East Midlands, North West England & North East England.

You’ve worked hard for what you have. Make sure you keep it by getting a Family Asset Trusts in Wales or elsewhere in the UK….

Getting a Family Asset Trust today is easy to do – and we can help you every step of the way.

Either Request a meeting with one of our Family Asset Trust specialists by completing the contact form or you can order a copy of our 7 easy steps to protecting your family and your wealth document.

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If you have any further questions you could email maconsultancy1@gmail.com or to get a Family Asset Trusts in Wales you could call MA Consultancy on: 07517 024979.

In addition to Family Asset Trusts in Wales our partners can also provide the following services:

Get a Will Today | Funeral Plans | Lasting Powers of Attorney | Business LPA’s

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5 Reasons why you need a Will?

4 Reasons why you need a Will

It is very easy to make a Will and having a Will in place will save your family unnecessary distress and heart ache at an already difficult time.

Please find 5 reasons why you should have a Will…

5 reasons why you need a Will – No. 1

Having a Will makes it much easier for your family or friends to make all the necessary arrangements when you die.  Without a Will the process can be more time consuming and more stressful.

5 reasons why you need a Will – No. 2

If you do not write a Will, everything you own  will be shared out in a standard way defined  by the law.  This might not be the way that you might want your estate (property & assets) to be shared out.

5 reasons why you need a Will – No. 3

A Will can help reduce the amount of Inheritance Tax that may be payable on the value of the property and money you leave behind.

5 reasons why you need a Will – No. 4

Writing a Will is especially important if you have children or other family who depend on you financially, or if you want to leave something to people outside your immediate family.

5 reasons why you need a Will – No. 5

Writing a Will is especially important if you live with a long term partner and are not married.  Their is no such thing in Law as a “Common Law Wife” if you want to leave something to a long term partner then you should have a Will.

If you are looking for a Will you should take a look at our Will Writing Service and other Estate Planning Consultancy Services for England & Wales.

In addition to Wills we also offer these other Estate Planning products & services:

Estate Planning Products

  • Standard Will / Last Will & Testiment
  • Mirror Wills
  • Safe Document Storage including Annual Will Storage and Life Time Will Storage
  • Probate & Pre-paid probate
  • Asset Trusts
  • LPA’s / Power of Attorneys
  • Business LPA’s  / Business Power of Attorneys
  • Memorandum of Wishes
  • Severance of Tenancy
  • Life Interest Trust
  • Protective Will Property Trust

Estate Planning Services

  • Will Writing Service
  • Asset Trust Writing
  • Lasting Power of Attorney Provision (Provision of LPA’s)
  • Business LPA Provision (Provision of Business LPA’s)
  • Preparation of a Memorandum of Wishes
  • Severance of Tenancy Services
  • Life Interest Trust Writing Services
  • Protective Will Property Trust Writing Services
  • Annual Will Storage Services
  • Lifetime Will Storage Services

Should you like to book a free consultation with an Estate Planning Consultant to discuss a Will or any of the other products or services please call: 07517 024979 or Email: michael.armstrong@willassociates.co.uk .

The 5 reasons why you need a Will page was written “By Mike Armstrong”

Financial Planning for you & your parents…

On Tuesday afternoon we met with a gentleman who was enquiring on behalf of himself and his parents.  A colleague of his from work had shared with him the difficulties they were having as a result of their parent having a stroke and losing mental capacity. The purpose of our meeting was to share with the […]

http://willstrustsandlpaswales.co.uk/2015/11/25/financial-planning-for-you-your-parents/

Writing an Asset Trust in Wales

On Tuesday we re-visited a client previously seen 4 weeks ago. This client was pleased to learn from us about the potential benefits of placing his assets into Trust but wanted to carry out some research on the proposal as well as on us as a company and our pricing structures.  The client rang us back […]

http://willstrustsandlpaswales.co.uk/2015/11/11/writing-an-asset-trust-in-wales/