Discretionary trusts are a type of trust where the trustees are given complete discretion to pay or apply the income or capital of assets for the benefit of beneficiaries. The Trustees have control over how much to distribute at any given time, when to make distributions and to whom such payments are to be made. …
Devon Will Writer – What is a Trust?
So what is a Trust? There are 2 main types of Trust. A Trust can be created either during your lifetime or upon your death. Examples of when a LIFETIME TRUST would be appropriate:You wish to remove asset value from your estate to avoid Inheritance Tax (IHT); and/or You would like to make a gift to someone …
The Benefits of Using a Professional “Will Writer”
So what are the benefits of using a professional will writer? Some people understandably believe that they will get a superior product and service if they use a solicitor rather than a professional Will Writer. However, a Will is either legally valid or it is not, whether it is provided by a solicitor or a …
Deceased Estate Values
Receiving an inheritance from a deceased person’s estate can be a bittersweet experience at the best of times. Although you may have received a windfall, you have probably lost someone very dear to you. Many people are unaware that we have up to 6 months to pay any Inheritance Tax (IHT) due, and up to …
Trusts – A Little Knowledge is Dangerous
Beware the curse of advice casually provided by a self-taught “expert” at a bus stop, in the pub or over the garden fence. A few years ago, I advised married clients to incorporate protective “Trusts” in their Wills. The purpose being that in the event of the first death, the survivor would benefit fully from …
TRF Wills (TRF) was created by Michael Cotterill in 2005. He is a member of the Society of Will Writers and registered with the Information Commissioner’s Office.