Frequently Asked Questions

A trust allows you to set aside assets for your relatives or friends (the beneficiary) and administered by a person or organisation (the trustee). For example, you could appoint a trustee to hold some money for your daughter until she turns 25. There are different types of trust’s, and our advisors can suggest the best one based on your needs.

Yes, trusts are not just for the super-rich. Anyone who has assets they would like to protect for a relative or a friend needs a trust. For example, if you have a new partner but want to pass on your house to your children. Putting that property in a trust will mean your partner can remain in the home until they pass and have the house pass on to your children.

Yes, trusts are not just for the super-rich. Anyone who has assets they would like to protect for a relative or a friend needs a trust. For example, if you have a new partner but want to pass on your house to your children. Putting that property in a trust will mean your partner can remain in the home until they pass and have the house pass on to your children.

Other estate planning firms have made bold claims that by putting your property in a trust and naming someone (usually your children) as the trustees you’ll be able to avoid care home fees. The idea being that as you no longer technically own the house, and value would no longer be calculated when it comes to means testing for care home feeds. It sounds like a good idea, but local authorities have become wise to these types of schemes. When assessing they will ask about any previously owned assets and take into account any reasons you’ve had to hand over assets or property to other people. They’ll consider timing, alongside any motive or intention and the fee. If they decide you have been deliberately moving assets to avoid care home fees (deliberate deprivation), then they will include these assets when mean testing.