Asset Protection Trust
Asset Protection Trust's are a legal arrangement where one or more ‘Trustees’ are made legally responsible for holding the assets of the trust. The Trust will protect your home, as the main asset, or your share of it, savings, antiques or any other valuables you may wish to protect.
There is a current threshold of £325,00 per person or £650,000 for married couples for each Trust. It may need more than one trust if your estate is worth more than the threshold.
The key point is that other creditors will NOT be able to make a claim on your property or assets during your lifetime, or on your estate when you have died.
How you can benefit from an Asset Protection Trust?
You have control over the estate during your lifetime, and therefore the Trustees are duty bound to abide by your wishes. You are able to sell your properties whenever you wish, and receive the full sale proceeds. You are able to rent the property out and receive the income via the Asset Protection Trust, albeit a tax return may be necessary. The Trust will protects your estate from creditors such as. commercial and residential landlords, protects your estate from the unscrupulous partners of your children or grandchildren.
There is No Stamp Duty Land Tax liability on transfers into Trust.
But are Asset Protect Trust's appropriate for your circumstance?
An experienced legal team will ensure that the Trust is set up in accordance with your needs and wishes and will provide the security and protection to make your future planning ring fenced.
No matter what the future holds ensuring that your assets are secure is a sensible option for most people
The current fragile economy lays concerns that people should protect and save what they have. Business owners may be exposed to banks and other creditors, home owners are open to personal debt and creditors aside of any potential family dispute.
We help you decide which Asset Protection Trust is right for you
Our experienced legal panel are happy give you the full range of trusts available in order to make the right choiceYour circumstances are different to each and every other client so we give you the options that are right for you.Our panel are independent and therefore able to offer you the widest range of trust to properly provide the solution to your needs.
Can you be sure that the your asstes sufficiently protected? The best advice is always chose an experienced professional such as a solicitor or financial advisor.