PEACE OF MIND by Monica Salvioni Reeder
Before I started working in this field, legal services were completely unknown to me, despite my 12 years’ experience in Italy. Now, having worked with David Richardson for 5 years, I realise that legal services are a synonymous of “peace of mind”. Let’s see why.
In England it is paramount to have a Will. A Will is the first bastion of defence in estate planning and it allows individuals to state how they want their estate distributed once they pass away. It is ever so important for parents with young children because they can appoint guardians for their young ones and avoid them going into care should they both die. Peace of mind.
However… is it enough? Unfortunately, a Will can be vulnerable. In fact, under the Inheritance Act 1975 there are categories of people entitled to an inheritance: some are the obvious ones (children, spouses) but some you might not know about (for instance, an ex-spouse who has not remarried, even though you have divorced 30 years ago!).
Also…did you know that assets passed on under a Will could need a Grant of Probate?
What can we do then? Although we still need a Will, there is tool available to us to make sure that our children will benefit from our inheritance: a Home and Asset Protection Trust. There can be no claims under the Inheritance Act 1975 for assets in a Trust. If you disinherit your child you haven’t been in contact with for years, that child has no claims on your assets into Trust. Your ex-spouse who hasn’t remarried has no claims. No Probate is needed for the assets in Trust, therefore no probate costs and no wait for your beneficiaries. A Home Protection Trust protects you against all unforeseen circumstances whatever they might be in your life. Peace of mind.
The moment we have both a Will and a Home Protection Trust, we will enjoy that peace of mind.
For a FREE consultation telephone South West Asset Protection on 0800 014 8031. South West Asset Protection are fully regulated, insured and approved by trading standards under their “Buy with confidence” scheme