Trusts are one of the most useful legal solutions we advise on, as they offer you – the client, control.

This can be control of who can access your money, who legally owns your money and who gets protected if something happens to them or you. All of these and other advantages mean that many of the traps people end up falling into are avoided. However, few people understand trusts and so they do not fit into most people’s plans.

When I talk trusts a lot of people say that they are for the rich. This is not the case. You can set up a trust for as little as say £10 per month. Lots of people think them complex, well, only if you want them to be. There really is no barrier for most people to use the benefits a trust offers.

Do you have existing life assurance? Is it in trust? If not you really are missing a trick.

As I say trusts can be really simple or as complex as you want, you can pay in a lump sum or a regular premium. You can insure yourself through the trust and make sure your family get what you want them to get, even if you should suffer an untimely demise.

But I will be dead so what is the point? Well you can use living trusts (sometimes called a protective or probate trust).

What are the benefits of having a living trust? Here are a few.

  • You choose who benefits and its unlikely to be challenged like a Will can be
  • A living trust bypasses the time-consuming process of probate and assets can be managed without the need to wait for a grant of probate from the court.
  • If the person who sets it up (the Settlor) wishes and, assuming the assets are available, the Trustees do not have to wait for the Settlor to die to provide assistance to the beneficiaries. They can see their beneficiaries benefit during their lifetime.
  • You can place your assets in a Trust to make sure your beneficiaries receive them at a time that’s right for you and for them.
  • You have complete control – you decide on the trustees and what they can and cannot do. This is beneficial if at some point in the future you are unable to manage your financial and legal affairs due to an incapacity such as dementia.
  • A living trust can protect your share of assets in the event that your partner should go into care, marry, or co-habit after you have gone.
  • A living trust can protect your you against loss of assets due to care or other financial risks faced by older people.
  • You can get access to the trust if it is what you want at set up and it suits your planning. This is because you can be a beneficiary of the trust.


Regular premium trust funds

These are quite often preferred by people who don’t have, or do not wish to give away, large amounts. You could for example set up a monthly payment to a trust of say £50 per month, this could for example buy an insurance that would be paid to the trust fund. For a Man aged 65 that might mean a £20,000 trust fund.

Think about the difference that this might make to your nearest and dearest.

There is no maximum amounts you can do per month so the budget is up to you.


Single premium Trust funds.

You can put money into trust as a single payment say for example £10,000 and this can then move quickly to whoever you choose in your lifetime or on death.


A trust can really improve your planning. If you want to know how, we offer no obligation first meetings. We can build for you a list of all you need to consider for trust or otherwise for a successful financial future.


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