Having a Will in place will provide peace of mind when it comes to appointing guardians to look after your children. Hopefully the guardians will never have to take up their appointment but it’s better to know that should anything happen to you, your children will be looked after as you wished.
For some people, a straightforward Will may not be enough and a Trust will be a better option. Placing assets into a Trust can seem a daunting prospect, but often it can be fairly simple if you instruct a solicitor to set it up on your behalf.
A Trust is a legal arrangement where there is a transfer of ownership of assets for the benefit and use of someone else. There are many different types of trust but basically they offer a means of holding or managing money for people who may not be ready or able to manage it themselves.
They’re often used when parents want to ensure that their children are looked after when they are no longer here and they can also be set up to look after disabled relatives unable to manage their money or assets themselves. Appointing Trustees to manage money or assets on their behalf can provide the peace of mind that loved ones are being looked after in accordance with their wishes and directions as detailed within the trust deed.
The legal wording of a trust needs to be precise, so legal expertise is very important to protect the beneficiaries of the trust and ensure the trust is managed correctly. Battrick Clark have a wealth of experience and expertise in setting up trusts, so if you have any questions about drawing up a trust, then call 0117 973 1391 to discuss your specific requirements.