Asset Protection Trust

livingTrustThere are many advantages to passing your home and/or other assets into a trust during your lifetime. This scheme is known as a lifetime trust and is available to single people as well as couples.

Life is never certain and all too often personal circumstances can change and things occur that put the home at risk either for yourselves, or for the ones you want to leave it to after you have passed on.

Even if you remain fit, healthy and financially solvent until the end, who can not predict what will happen to your home and other assets once they have been inherited by your loved ones? They too could lose the assets due to financial pressure or unforseen circumstances, and the security you hoped it would provide them is lost forever.

The Asset Protection Trust is designed to protect your property by placing it in a Protective Trust.

Placing your property into a properly drafted Protective Trust would mean that you retain all the benefits of home ownership and protect beneficiaries inheritance from being lost or diluted in the event of:

  • remarriage after first death
  • premature death of a first line beneficiary
  • marriage/remarriage of a beneficiary
  • beneficiaries becoming insolvent or filing for bankruptcy
  • a challenge from any individual not named as a beneficiary

Placing your property into family trust like this would also:

  • protect a beneficiaries state benefits
  • allow beneficiaries to receive their inheritance immediately
  • eliminate or reduce the requirement for probate
  • protect the natural/bloodline succession
  • protect unmarried couples
  • allow Trustees to rent the property immediately after death or if you no longer live in the property
  • provide the Trustees with the means to manage the property should you lose capacity to manage your own affairs