Trusts have been used for hundreds of years and until fairly recently they have been reserved as a tool to protect the estates of the wealthy for their future generations. However, over recent years the knowledge surrounding Trust Law has increased and as such it has considerably reduced the legal drafting costs,
making Trusts more accessible to a wider range of consumers.
Trusts are a fantastic tool when used in the correct circumstances, providing long term protection of hard earned assets during your lifetime and those of your loved ones. They offer a flexible solution to all family structures and prevent inheritance moving out of the desired line due to a change in circumstances, be it yours or those you wish to leave your estate to.
Trusts can provide protection for all types of circumstances, below names just a few:
Marriage following the death of your spouse or partner
Marriage or Divorce of a beneficiary
An unexpected death of a beneficiary
Financial hardship of a beneficiary
Trusts reduce and can even eliminate the cost of probate.
Furthermore, they can considerably reduce the burden placed on loved ones following death.