Probate Trusts
A Probate Trust is a legal way to ensure that your wishes are carried out precisely as you intend. You can protect your home, cash, investments and bank deposits in your Trust. Working alongside your Will, the Trust will hold your assets and save your family the delays and expense of probate.
If you’re interested in arranging a Trust, contact us today.
Benefits of a Trust
A Trust can give you peace of mind that your wishes will be respected and your family will be provided for as you wish.
- There’s no need for probate, saving your family time and money
- Your Trust prevents Sideways disinheritance, so your loved ones are guaranteed their inheritance
- Children can inherit at a time right for them
- Your family will find it easier to plan for any Inheritance Tax issues
- A Trust is much harder to challenge than a Will if there are any claims
Probate is expensive and can take six months, but with a Trust, your estate will pass directly onto your loved ones as you wish with no requirement for probate.
Your assets can be placed in a Trust without a lifetime Inheritance Tax charge if they’re worth up to £325,000 for a single person or £650,000 for a couple. Sophisticated Trusts can handle larger values.
How it works
A Trust acts as a safety deposit box for your assets, which you can access at any time. As you control the Trust, you will be able to make as many changes as you want. Just as you choose who benefits from your Will, you can also decide who will benefit from your Trust.
You nominate people to be responsible for the Trust’s assets. We help make choosing these Trustees simple. They could be:
- Your partner
- Other family members
- Trusted friends
You will be the principal Trustee during your lifetime.
When you are gone, the Trustees will help carry out your wishes in the future and provide for your family. Your family can decide when they would like to receive their inheritance, and the Trust will also protect the assets from bankruptcy repayments.
Remember that you can only make a Trust during your lifetime while you’re of sound mind.
We also provide Will Trusts.
Ready to know more?
Get in touch and speak to one of our friendly advisers today.
Probate Trust Service Levels
We offer clear, fixed-fee Probate Trust services with varying levels of support, depending on the complexity of your arrangements and the guidance and reassurance you require.
Standard Service
Our Standard service is suitable for many probate trust arrangements and provides comprehensive support. It includes in-person guidance, multiple draft revisions, supervised signing and professional checks to ensure your trust is correctly established.
Premium Service
For more complex trusts, or for clients who want priority handling and enhanced ongoing support, our Premium service offers a higher level of care. This includes senior adviser involvement, priority progression, additional draft revisions, and ongoing support features to provide greater reassurance.
Please note that a Basic service is not available for Probate Trusts, due to the additional complexity involved.
You can read more about what is included at each service level on our Service Levels page. Full pricing information is available in our Price List here.
