Trusts are very often considered to be complicated and expensive. However, although the “terms and conditions” can sometimes be detailed and extensive, the fundamental purpose of a Trust will usually be stipulated by the person or people wishing to create it. The “legalese” contained within the paperwork is merely to ensure that a Trust is …
Vulnerable Adult Beneficiaries of a Will
Beneficiaries of Wills may be vulnerable for many reasons, including but not limited to learning difficulties, illness, and addiction. How do we provide for a vulnerable (and possibly dependent) adult Beneficiary in our Will? The beneficiary’s vulnerability is not as important as their care needs, and the solution is known as a Vulnerable Person Trust. …
Solicitor v Local Professional Will Writer
Some people understandably believe that they will get a superior product and service if they use a solicitor rather than a local professional Will Writer. However, a Will is either legally valid or it is not, whether it is provided by a solicitor or a local Will Writer. A qualified solicitor is accountable to the Solicitors …
Jointly Owned Property and Wills – The Connection
Jointly Owned Property and Wills: If you own your property as Joint Tenants with another person or people, you may decide that you want to change the ownership, so it is then held as Tenants in Common instead. This will enable you to gift your share of the property to someone other than your co-owner(s) …
Wills and Vulnerable Beneficiaries
Will beneficiaries can be vulnerable for many reasons, including but not limited to learning difficulties, illness, and addiction. How do we provide for a vulnerable, possibly dependent adult Beneficiary in our Will? The beneficiary’s vulnerability is not as important as their care needs, and the solution is known as a Vulnerable Person Trust. Vulnerable Person …
Reasonable Provision for Estranged Family Members
When a disgruntled family member (the applicant) attempts to contest a lack of, or insufficient, provision for them from a deceased person’s estate, then the courts apply a two-stage test, so what is reasonable provision for estranged family members. Firstly, the court considers whether the Will or Intestacy (if there is no Will) of the …
Disabled Persons Trust
The term “Disabled Persons Trust” is one that was created within the legal system. It is a term in no way endorsed by TRF Wills and we refer to it reservedly and solely because it is currently widely used and recognized within the Wills and Trusts industry. When someone wishes to provide in their Will …
What is a Trustee?
A Trustee is someone formally appointed to manage assets of a Trust for the benefit of others (usually Beneficiaries), and to administer the Trust in accordance with its terms. There is an ongoing obligation for Trustees to act in accordance with the terms of the trust and in the best interests of its Beneficiaries. Trustees …
Use a Will to Protect Assets of People with a Terminal Illness
Not a cheerful subject, however, most of us are reluctantly aware that we are not immortal. Some people shall never be aware of the timing of their demise. However, for others, they will be diagnosed with a terminal illness and must continue for the remainder of their life with the additional burden of that knowledge. …
Use a Will to Protect Assets of People with a Terminal IllnessRead More
Register your Trust with HMRC BEFORE 1st September 2022
If you are in any way connected to an existing Trust or Trusts, whether that be as a Trustee, a Beneficiary or the person who created the Trust, then it is highly likely that you are required to register that Trust or Trusts ON or BEFORE 1st September 2022. If the Trustee(s) fails/fail to register …
Register your Trust with HMRC BEFORE 1st September 2022Read More
What is a Discretionary Trust?
A Discretionary Trust is a type of trust where the Trustees are given complete discretion to pay or apply the income or capital of the assets for the benefit of one or all its Beneficiaries. The Trustees have control over how much to distribute at any given time, when to make distributions and to whom …
Discretionary Trusts – Devon Will Writer
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. …
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.