Family Protection Trusts

Having worked hard all your life and done all you ever could to protect the financial future of your family, it makes complete sense to consider all the options when you’re approaching your later years. If you haven’t taken the necessary steps before your passing, your loved ones could face a great deal of difficulty in accessing their rightful inheritance. With this in mind, a growing number of people have been considering the benefits of a Family Protection Trust, and it’s easy to see why.

When you sign up to a Family Protection Trust, you are in effect placing your assets, including savings and properties, into a form of safety deposit box. You’re still in charge of what’s in the box, you still have access to everything in it, but when you pass away it’s easier for your appointed trustees to access what’s in there, in accordance with your stated wishes. Who you appoint as trustees is entirely up to you, of course, and it can be family members, trusted friends or professional solicitors, or a combination of these. Your beneficiaries will be able to access their rightful inheritances without the need for costly, time-consuming legal processes such as probate. Having a Family Protection Trust in place will still mean you should also have a will, because this will dictate what items in the trust are left to whom. Here at DJC Wealth Management, we can advise you on the benefits of a Family Protection Trust, and with help from trusted partners we can make all the arrangements on your behalf.

A Family Protection Trust is rightly seen as an extremely valuable asset in the battle to protect what’s already yours. Once it’s in place, it will reduce the administration costs of your estate, for example, and can potentially prevent your financial holdings from being eroded by the spiralling cost of care home fees. Every client will deal with is an individual, of course, and as such will need a bespoke approach to the establishment of any trust. Our team will be on hand to discuss your specific circumstances in regard to what you have, who is to benefit and who is to do the administration, leaving you with a clear and concise understanding of how your personal assets are to be handled. All that’s left for you then is the peace of mind that comes from knowing you’ve taken the right path. In almost all cases, the cost of setting up a Family Protection Trust is significantly lower than the cost of using a solicitor or bank to negotiate the complex waters of probate. As always, DJC Wealth Management will talk you through the costs involved right from the start, and will make sure you’re happy about this before proceeding.

To find out more about protecting you, your loved ones and your assets with a Family Protection Trust, all you have to do is get in touch with our team. You can use the online form on our Contact page or just call 07449 632 927 in the coming days. We look forward to bringing you the help and reassurance that you need.

*The Financial Conduct Authority do not regulate trusts and wills.

*Will writing is not part of the Quilter Financial Planning offering and is offered in our own right.