Through the use of Wills and Trusts the Right Will can help protect your children’s inheritance and ensure your assets reach your children, grandchildren and other relatives, rather than ending up in the wrong hands. This is known as ‘bloodline planning’.
Some, or all of your children’s or grandchildren’s (bloodline’s) inheritance could be lost.
Assets not protected by a Trust face attack from…
The Divorce or separation settlements of future generations.
Creditors or Bankruptcy claims.
Further Inheritance Tax bills.
Distributing assets absolutely to beneﬁciaries exposes those assets to risk.
When assets are distributed to beneﬁciaries “absolutely”, (ie. they receive cash, property or other assets as a direct lump sum payment) much can be lost through inheritance tax which is charged at 40%.
Even after inheritance tax these assets are at further risk of attack from any future divorce settlements, creditors and taxation.
If assets are placed into Trust rather than distributed absolutely then it will protect them from inheritance tax, future divorce settlements, creditors and taxation.
With the strategic use of Wills and Trusts, The Right Will can ensure that your children and grandchildren are able to beneﬁt completely from the inheritance you want them to receive and at the same time, protect the family home and other assets from being lost to the costs of Long Term Care.
Please click here for information on the 5 common threats to an estate and how to protect against them to safeguard your childrens inheritance.