Legacy Family Inheritance Trust

Legacy Family Inheritance Trust

A Discretionary Trust is a very flexible form of Trust which is used to protect assets for beneficiaries on your death. This is because it may not be the ‘right time’ for them to inherit for the following reasons:

  • Bankruptcy
  • Divorce
  • Disability
  • Care costs
  • Generational Inheritance Tax.

In these Trusts, the trustees have discretion over how, when and for whose benefit to use all of the capital and income of the Trust fund. You leave instructions for the trustees as to how the assets are to be used.

What risks can a Legacy Family Inheritance Trust potentially avoid?

Bankruptcy: If the beneficiary of your Will is bankrupt or in danger of becoming bankrupt, the risk is that a gift from your estate might be paid directly to the beneficiary’s creditors and not actually benefit those you wanted it to.

Divorce: The assets left from your estate to the beneficiary might pass to a former spouse rather than the person it was intended for.

Disability: If a beneficiary is disabled in some way and needs help managing the assets left to them or they are in receipt of state benefits, the assets left to them may be misspent or used to reduce or replace the state benefits provided.

Generational Inheritance Tax: The assets do not fall directly into the beneficiary’s estate, further taxation charges will not be applicable to these assets on the beneficiary’s death.

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Very helpful, courteous and efficient - just what I wanted I did not want to be talked down to, or told what to do - and they were just what I was looking for - professional and efficient

David Blake, Feb 11 2017

The team at legacy wills have been very helpful and extremely courteous when talking through the full process with me. Would highly recommend.

Miss Jane Adiller, November 3

I found the advisor extremely helpful, explaining clearly any points which I was unsure about. I received my Will some days later and was pleased that the company followed up to check that I was happy with it. I did not feel pressured in any way and I would recommend this company to anyone wishing for a straightforward and efficient service.

Linda Leary, November 3

Legacy wills explained every step very clearly and anything you forgot to ask they encouraged you to contact them, they also made you feel that no question was to big or small they would always find the answer.

Juliet Patricia, December 3

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