Call: Stoke-on-Trent (01782) 639716 or 0800 072 5510 ... for a fast, professional,
and friendly service and money-saving advice
Convenient Wills, 16 Thomas Avenue, Newcastle-under-Lyme, Staffordshire ST5 9AF
Proprietor:
Rod Jones
© 2006 - 2010 All Rights Reserved (Website author: Rod Jones) HOME
| TERMS AND CONDITIONS | DISCLAIMER
MENU (Scroll Over & CLICK to view):
Convenient Wills
• home-visit will-writing service •
• bespoke wills at ‘value for money’ prices •
• daytime and evening appointments •
Call: 0800 072 5510 or
Stoke-on-Trent (01782) 639716
What is a .... Trust?
A trust is a legal arrangement whereby assets are held by a person or persons for the longer term benefit of someone else.
In the interim period another person or persons may have use of those assets, either fully, or partially.
Common examples of trusts include:
- Minor children trusts. The child cannot inherit until aged 18, so the trustees look after the trust fund until the child attains that age;
- Discretionary Trusts. The trustees have full discretion to choose who should benefit from the trust fund. With an IHT NRB trust for example they may allow the surviving spouse to benefit, or the children of the deceased, or both; the trustees decide. Disabled person’s trusts are discretionary trusts
- Reversionary. Life interest in a property is a common example. Here a deceased parent may allow his/her surviving spouse to continue to live in the matrimonial home until the surviving spouse dies. On the surviving spouse’s death the property then goes to the children of the first deceased (as per his/her will). The second to die never owned the property to give away.
Trusts can be very useful for IHT planning, property protection from long-
We discuss trusts with you, in detail, if you use our home-
- What is a trust
- Discretionary / Reversionary / Disabled / Minor children’s trusts
