Unlike investing money for yourself, where caveat emptor – “let the buyer beware” – applies, investing as a Trustee is governed by a whole series of rules and regulations, which you ignore at your peril.
You will be invited to agree to any charges before work commences, but an initial consultation and a subsequent discussion document are at the expense of Wren Sterling (as they pay my salary, expenses, etc.).
Being asked to act as a Trustee by a friend or member of the family can be flattering, as it shows they trust you to handle their financial affairs. But remember that by accepting you will have to take on a lot of responsibility.
Will your children’s inheritance finish up in the hands of a son or daughter-in-law you never really liked? Watch this interesting animation.
Could your children’s inheritance finish up in the hands of a bankruptcy administrator? Watch this interesting animation.
Are you passing an Inheritance Tax problem down the generations? Watch this interesting animation.
Will all your assets be expended on paying for future long term care so there will be nothing left for your children? Watch this interesting animation.
A common concern is that, following your death, your Partner remarries and your children’s inheritance finishes up with that new family. If this is a concern, watch this animation and then call me to discuss how an updated Will can help allay your fears.
I have been advising on Wills and Trusts since 1971 and I am a registered Trust & Estate Practitioner.
The laws dividing your assets if you don’t have a Will changed radically on 1 October 2014, although one of the most needed reforms has been put on the back-burner. Whilst partners in a marriage or civil partnership get a much-awaited improvement in their outcome, “common law” partners may be shocked to discover they still […]
I liken the whole process to satellite navigation in the car – I work out where someone is now, where they want to go, plot a course and then keep them on that course, avoiding the financial obstacles en route.
An investment – lump sum or regular savings – into an offshore bond written under a Discretionary Trust could be a particularly attractive way of pre-funding these costs.
Giving your home away is an extremely bad idea for a number of reasons. Firstly, when you give your home away, you do exactly that, it is no longer your asset, it belongs to someone else.
Asset Protection Trusts The Internet is infested with websites proclaiming guaranteed routes to excluding assets from means-testing and my opinion is that these are, at best, disingenuous. Be wary of trusts to avoid care home fees. Why Asset Protection Trusts are not a good way to avoid care home fees. Many of the schemes are […]