Placing Assets into Trust

A trust is a legal structure that can be created alongside your Will, offering additional protection to:

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• Your estate

• Your property

• Your spouse or partner

• Your children

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Trusts are created to ensure that assets such as your property or savings transfer to a loved one without difficulty either on your death or even during your lifetime if you wish. You will appoint "Trustees" (those in charge of the trust), as well as "beneficiaries" (persons who will inherit from the trust). To put it another way, a Will is an expression of your wishes and a Trust protects. 

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Trusts typically fall into two categories:

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1) A Will trust - as the name suggests, a Will trust is activated by your Will, and so assets are placed into a Will trust on your death and protected for your chosen beneficiaries from your death onwards.

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2) A Lifetime trust - assets are placed into trust during your lifetime, protecting your assets and your benefits straight away. They have been specifically designed to protect your assets for you during your lifetime and give you the peace of mind that they can pass on securely and intact to your spouse, your children and their bloodline (or other named beneficiaries) after your death. Just like a safety deposit box, assets can be added and removed during your lifetime.