Many of us have worked hard, and saved or made good investments to enjoy during later life, or to leave for our children when we die. Therefore, it is always a good idea to get expert help on how best to protect your assets against potential unforeseen problems in the future, such as:
- The need to pay for care in later life.
- Financial abuse.
- Drop in the property and/or financial markets.
- The use of assets for the payment of tax.
For many who are on the property ladder (especially the elderly who may be living in a property they bought 40 or more years ago) they will have seen a dramatic rise in the value of their property – increasing net worth significantly. As a result, you may find yourself in a position where you could be facing large tax bills: inheritance tax, capital gains tax and income tax all of which can have a big impact on the value of your estate. Further, you could find yourself concerned about the future loss of your home and wealth as funds are needed to pay for your needs in later life.
Getting the right protection for your estate and assets so they’re not consumed by posthumous costs or lost unnecessarily can be cause for concern and this is where expert legal help can allay such concerns by taking the necessary steps to protect your assets.
Setting up trusts could be an effective asset protection tool to protect your assets from creditor claims, lawsuits and other legal threats.
There are several types of trusts – some of which are revocable, some of which are not and your particular circumstances will dictate what is right for you.
We can cater to everyone, as situations are unique to the client with different concerns and objectives.