WESTMINSTER WEALTH PRESERVATION
protecting your assets
What is a Family Wealth Protection Trust?
The Family Wealth Protection Trust is a specialist trust which places your assets into Trust whilst you retain enjoyment of them. Once the Trust has been created you can use it to ‘ring-fence’ your assets.
How it works
When you place your property within a Trust, you effectively split ownership and control but you still keep full control of everything. As assets held in a Trust will no longer be part of your estate.
Protect your assets ...
Providing Family Asset PROTECTION FROM:
- Probate costs & delays
- Inheritance Tax for future generations
- Bankruptcy & creditors
- Divorce
- Second marriages
- Challenges to your estate
- Disabled beneficiary disadvantage
- Loss of mental capacity disadvantage
The Advantages
Many people set up Family Wealth Protection Trusts for very different reasons. Trusts are a protective mechanism to hold your assets and so may also save you and your family many tens of thousands of pounds and ensure that your estate passes efficiently and intact to your loved ones. Here are a few other benefits:
Why Plan?
There are many threats to personal wealth and the family home. Complicated or broken family relationships and ill health can create the biggest challenge; not facing up to them and dealing now with the ultimate difficulties they could cause will only make the outcome worse.
