I am a Trust & Estate Practitioner based in the UK. I must admit you do explain very well on all your videos and the advice is good and correct -Thank you
My mother set up a lifetime trust solely for my elder brother. When she died I handled probate and was hit by a £5000 (£350000 estate) charge by the solicitor to obtain the money in that trust. Also some of us do not have a million in assets and approaching our 80’s so surely some of these arguments don’t apply in the same way. I appreciate the points you were putting across but I would rather have seen a more even handed approach, even though it would not help your business. I have found in life it is very rarely black and white in these situations.
Thanks and I take on board your comments but are information is desigend to help people with IHT probelems and so is obvioulsy not relevanyt to everyone
These are usually discretionary trusts that are set up with a settlement of £10 and then registered with HMRC - they are part of a structure desigend to take assets on death but set up during lifetime to solidify the current rules that apply but also ensure cliebts pay attnetion the the experessions of wishes for thier trustees.
can you set up a lifetime trust for anyone? for example I have no children, but want to leave parts of my estate to my brother and my nephew. Can I set them up for those, or does it have to be children and grandchildren?
Im due to marry my partner who owns his house outright, we have a daughter, its both our wishes that the house is left to her should anything happen to my partner after we marry, I'm willing to sign a prenuptial contract but thats going to cost thousands, am i right in thinking he can make a trust will for her to inherent the house n not leave me the house, but also states in the will im to stay in the property with her and look after it for her until she of age, some feed back would be great thanks
Hi Helen - this is not formal advice as we do not know your circumstances - Its a questions of certainty and trust - If he dies first leaving the house to you then you could alter your will leaving it to whomever you like - This is not anunusual situation with people getting remarried - we have a trust soluytion for this - use our personal questions answered facily on our website to get a better iunderstanding
I am a Trust & Estate Practitioner based in the UK. I must admit you do explain very well on all your videos and the advice is good and correct -Thank you
Hi UG - Thanks for your kind remarks - The difficulty is achieving technical correctness and still making the issues clear for the public
Nicely presented thanks. Much appreciate the blue text box summaries. Keeps the bullet points clear.
My mother set up a lifetime trust solely for my elder brother. When she died I handled probate and was hit by a £5000 (£350000 estate) charge by the solicitor to obtain the money in that trust. Also some of us do not have a million in assets and approaching our 80’s so surely some of these arguments don’t apply in the same way. I appreciate the points you were putting across but I would rather have seen a more even handed approach, even though it would not help your business. I have found in life it is very rarely black and white in these situations.
Thanks and I take on board your comments but are information is desigend to help people with IHT probelems and so is obvioulsy not relevanyt to everyone
Thank you, very helpful.
Brilliant explanation of the matter. Would like to know what type of trusts can be life trusts? Any videos you would suggest to watch? Thank you
These are usually discretionary trusts that are set up with a settlement of £10 and then registered with HMRC - they are part of a structure desigend to take assets on death but set up during lifetime to solidify the current rules that apply but also ensure cliebts pay attnetion the the experessions of wishes for thier trustees.
can you set up a lifetime trust for anyone? for example I have no children, but want to leave parts of my estate to my brother and my nephew. Can I set them up for those, or does it have to be children and grandchildren?
Yes it can be done for anyone - you will ned to visit our website and contact us
Im due to marry my partner who owns his house outright, we have a daughter, its both our wishes that the house is left to her should anything happen to my partner after we marry, I'm willing to sign a prenuptial contract but thats going to cost thousands, am i right in thinking he can make a trust will for her to inherent the house n not leave me the house, but also states in the will im to stay in the property with her and look after it for her until she of age, some feed back would be great thanks
Hi Helen - this is not formal advice as we do not know your circumstances - Its a questions of certainty and trust - If he dies first leaving the house to you then you could alter your will leaving it to whomever you like - This is not anunusual situation with people getting remarried - we have a trust soluytion for this - use our personal questions answered facily on our website to get a better iunderstanding