What is an Asset Protection Trust?

We all want to protect our assets for the benefit of our loved ones. Most people write a Will to ensure that their assets are passed to their children and other loved ones when they’ve gone.

However, a Will can only dictate how your assets are distributed after your death. The frightening fact is that your assets can be eroded or even taken from you during your lifetime, meaning there could be little or nothing left for your loved ones to inherit.

Our Family Protection Trusts protect your home, property and other assets during your lifetime. Any property, assets or bank accounts you place in to the Trust cannot be taken away from you or your loved ones, giving you the peace of mind that your wealth and family are fully protected.

Key Benefits

No Probate Fees or Delays
Probate takes on average six months with a Will and up to two years without a Will. Professional Executors can charge as much as 5% of the estate value to handle probate. In contrast, An Asset Protection Trust is not subject to probate upon death and many of the associated and costs delays can be avoided.
No Claims on Your Estate
Family life can be complicated and the Law entitles relatives, dependants or other people to go to court and claim 'reasonable financial provision'. In contrast, Trusts cannot be challenged on your death.
No Court of Protection Control
Having a Trust in place allows you to choose the Trustees who will control your assets without the supervision of the Court of Protection. For most families this allows common sense to prevail without bureaucratic costs and delays.
Protection from Means Testing
Assets correctly held in Trust are often excluded from means testing, meaning your home and other assets can be protected from claims on your estate.
Protection from Bankruptcy
If you are in business and would like to safeguard your personal assets from future unforeseen business debts, the Trust can keep them safe.
Financial Protection from Relationship Failure
A Trust can help you ring-fence assets prior to cohabitation, allowing you to ensure that your assets are safe should the relationship breakdown in the future.
Protection for Benefit Dependent Beneficiaries
If assets are inherited by someone that is dependent on the state for benefits, a Trust ensures that the beneficiary still qualifies for state support.
Protection from Inheritance Tax
Assets within the Trust will not form part of the taxable assets of your beneficiaries. This means that assets held in Trust for your children will not be taxed on their death, potentially saving your grandchildren a considerable amount of inheritance tax.