Why Use Multiple Trusts?
Why use Trusts?
We all know that setting up a Trust is the most flexible way of giving away assets without passing them absolutely to Beneficiaries. When assets are passed to beneficiaries “absolutely” they are at risk of attack from divorce or separation, bankruptcy and creditors, re-marriage, care costs and taxation.
Simply setting up a Trust for your clients will help protect their hard-earned money from any such attacks being made against their chosen beneficiaries, no matter what their future holds. But which Trust is right for their individual needs?
Trusts “inside” the Will
The Supermen Webinar 60 will discuss the benefits of using Trusts inside of the Will and how our brand new product, the SIBLING TRUST, can benefit both you and your clients. We will be revealing WHY you should consider recommending Multiple Sibling Trusts and how the Countrywide Legacy software will make drafting multiple Sibling Trusts a piece of cake!
How many Trusts does your client need?
There is no limit as to how many Trusts can be created. Ideally, you want to create as many Trusts as is required for each significant asset or purpose.
Why recommend Multiple Trusts?
There are many reasons your clients should consider using multiple Trusts.
By establishing separate Trusts for each child or beneficiary allows the Settlor to take their individual needs into account. Choosing the amount they wish them to benefit from and how they want them to benefit. Each Trust can have its own set of Trustees and beneficiaries meaning that siblings do not have to ask each other for permission to access their own share of the assets.
Appointing different beneficiaries and different Trustees to individual Trusts, results in better autonomy and management. By simplifying the management of the Trust it can also reduce costs. A group of Trusts is much simpler to manage than a single Trust with many purposes, mixed assets, multiple Beneficiaries and more potential for conflict amongst them.
Multiple Trusts can also be extremely beneficial in the case of divorce, and can further reduce the risk of funds being included in any financial settlement.
Join our team of technical experts to find out more!
Supermen Webinar 60 – Multiple Sibling Trusts
We’re going to be telling you everything you need to know about our new Multiple Sibling Trusts within the Countrywide Legacy Software!
Multiple Trusts in Legacy Software!
- Exploring the advantages for you and your clients
- How it works and how to deal with the input
- Accurate drafting in minutes
- True autonomy for your clients
- Will Trusts or Pilot Trusts
Register your place on our FREE webinar!
All Webinars commence at 10:00am and finish at 11:00am
This article was submitted to be published by Countrywide Legacy as part of their advertising agreement with Today’s Wills and Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.