Even if you live to a good age, there is no guarantee your children will inherit your assets. Firstly, you might spend all your money. However, assuming you are careful and save, should you require nursing care in old age, this will often use up many thousands of pounds a year which can mean little is left for your future beneficiaries.
At Kendal Wills we can talk to you about different ways of protecting your assets. This could be by having a suitable Will, or even by making gifts in your lifetime, either directly to family members or to a “trust”.
Property can be held in a trust, which is created either during somebody’s lifetime or on their death. Should you wish to give a property to a trust during your lifetime we can assist. There are many reasons for doing this. Giving a property to your children outright may not be your best option.
By putting a property in a trust, it can be better protected in cases of divorce of children and bankruptcy, so it can go to the right people at the right time. With a valuable property, it may be important that it goes to a child or children free of inheritance tax. Otherwise the property may have to be sold after death, simply to pay the tax bill.
Having gifted a property into trust, this can make probate and estate administration work much simpler as the estate is likely to be considerably reduced. There can also be benefits in terms of asset protection should you require long term care.
Kendal Wills have experienced solicitors and barristers we can call on to assist with this type of work.
Once you decide to take action, we normally suggest moving ahead as soon as possible. We will give up front quotations in advance of all work being carried out.
Why not contact us now for further help and advice?

Call us now on 01539 728020

or email us at enquiries@kendalwills.co.uk