What Is a Trust?
A trust is a legal arrangement where you place your assets under the management of trustees (people you trust) for the benefit of specific people, known as beneficiaries. This ensures your assets are protected and used according to your wishes, both now and in the future.
Benefits of Setting Up a Trust
Divorce Protection: Trusts can keep your beneficiaries’ inheritance safe if they divorce, ensuring assets stay within the family.
Bankruptcy Protection: If a beneficiary goes bankrupt, the trust assets are usually safe from creditors.
Protection Against Remarriage: If your spouse remarries, a trust ensures your assets go to your children or other chosen beneficiaries, not to the new family.
Tax Advantages: Certain types of trusts can reduce inheritance tax, allowing more of your estate to go to your heirs.
Support for Disabled Beneficiaries: Trusts can help disabled beneficiaries receive their inheritance without losing eligibility for government benefits.
Safeguarding Vulnerable Beneficiaries: Trusts protect beneficiaries who may not manage money well on their own.
Avoiding Probate: Trusts set up during your lifetime can allow assets to skip the lengthy and costly probate process, making asset distribution faster and simpler.
Trusts vs. Wills: Complete Estate Planning
While a will specifies who gets your assets after you die, a trust offers more control over how those assets are managed and protected. Using both provides a comprehensive plan for your estate.
The law surrounding trusts can be complex. At Lemonade Legal, we specialise in personalised trust consultations, ensuring your estate plan aligns with your goals. Our team offers expert advice, setting up your trust to best protect your beneficiaries.
Why Trust Lemonade Legal?
The law surrounding trusts can be complex. At Lemonade Legal, we specialise in personalised trust consultations, ensuring your estate plan aligns with your goals. Our team offers expert advice, setting up your trust to best protect your beneficiaries.
Book Your Free Consultation
Start by booking a free consultation with us. We recommend meeting in person because setting up a trust can be quite detailed, but if it's easier, we're happy to chat over video call or phone. This first meeting is key to understanding your needs, discussing your aims, and figuring out the best way to set up your trust.
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Designing Your Trust
Once we fully understand what you're looking for, we'll create a trust that's tailored just for you. We'll help you choose who will manage the trust (the trustees) and who will benefit from it (the beneficiaries). You’ll need to provide some basic details about these people.
Drafting and Reviewing Your Trust Agreement
Our experts will put together your trust agreement, making sure it meets all legal requirements and reflects what you want. We'll send this draft to you to look over when it suits you. If you want to talk through any parts of it, we can set up a meeting to make sure everything is exactly as you want it.
Finalising and Implementing the Trust
Once you're happy with the document and all the details are finalised, we'll arrange for you to sign it, which we can do together in person or guide you through remotely. This makes your trust official. We'll then help you get everything in place, like moving assets into the trust and letting beneficiaries know what to expect.
Ongoing Management and Support
Creating your trust is just the beginning. We offer ongoing support to make sure the trust keeps working as it should and still fits your needs as things change in your life. We'll stay in touch and schedule regular check-ups.
Get Started Today
Contact Lemonade Legal today to book your free consultation and take the first step towards managing and protecting your assets effectively.
023 8001 8313
Unit 24-25 Mountbatten Business Centre Millbrook Road East
Southampton
SO15 1HY
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