What is a Family Trust?
A Family Trust is a legal structure drawn up for the purposes of protecting your property (mainly your Home) during your lifetime and to ensure that it is passed down to your children and/or grandchildren.
A Family Trust is flexible, allowing trustees to take account of changing circumstances. The trustees are usually members of your family, but you could also be one of the trustees yourself if you prefer.
How can JWK Solicitors help me?
We can discuss with you the likely effect on your finances of you having to go into a Care Home.
This will involve looking at the following:
- Your capital, including the value of your Home
- Your present and likely future income
- The Inheritance Tax and Capital Gains Tax implications
- The effect of a Family Trust on any existing or proposed Will
- Your family's needs and expectations
- The regulations regarding Care Home fees
JWK can help you. Get in touch today
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