Keeping your Property in Trust

1. Keeping your Property in Trust Keeping your Property in Trust The l as t t hi ng anyone want s i s f or t hei r pr oper t y t o be i n danger of not bei ng pr ot ec t ed f r om c r edi t or s . Ther ef or e pr oper t y pr ot ec t i on t r us t s i n Tr ur o and ot her t owns and c i t i es ar e not onl y r ec ommended but es s ent i al . Thi s i s al s o one of t hos e i s s ues t hat mor e and mor e c l i ent s appr oac h l egal f i r ms s uc h as s ol i c i t or s and qual i f i ed par al egal s about . Tr us t s ar e c r eat ed f or var i ous r eas ons ; mos t of t en f or pr ot ec t i on f r om c r edi t or s and t he wr ong benef i c i ar i es . Thi ngs c an c hange ver y qui c kl y i n anyone’ s l i f e. The one day ever yt hi ng i s f i ne, you have a j ob, gr eat i nc ome and f ant as t i c heal t h. Thi s c an c hange i n an i ns t ant . Ther ef or e al l of us need t o know t hat we have t o t ake pr ec aut i ons t o s af eguar d us f r om t hos e bad t i mes when we may be i n a pr ec ar i ous pos i t i on and t hus we ar r ange f or pr oper t y pr ot ec t i on t r us t s i nTr ur o and el s ewher e. Of c our s e i t goes beyond a s udden c hange of f or t une i n t er ms of j obs and gener al c i r c ums t anc es . W e may al s o bec ome i l l , or a s i t uat i on c aus es us t o no l onger be abl e t o f unc t i on: we need t o know t hat our pr oper t y i s s af e and unt ouc habl e, t hat we wi l l s t i l l have a pl ac e t o l i ve – al s o a pl ac e f or our dependent s s uc h as s pous es , par t ner s and c hi l dr en – and our benef i c i ar i es . Tr us t s ar e s et up f or t hes e r eas ons : t o ens ur e t hat what ever i s hel d i n t he t r us t enj oys pr ot ec t i on under c er t ai n c i r c ums t anc es . Thi s i s done wher eby an owner get s as s i s t anc e t o c r eat e a pr oper t y pr ot ec t i on t r us t i nTr ur o t o make s ur e t he pr oper t y r emai ns pr ot ec t ed f r om c l ai ms . Thi s c an be one’ s r es i denc e, addi t i onal pr oper t y or any i nves t ment pr oper t y, f or exampl e. The owner or s et t l or t r ans f er s t i t l e of hi s / her pr oper t y t o a t r us t ee or gr oup of t r us t ees t o t ake c har ge of t he as s et s of t hat t r us t , f or i ns t anc e i mmovabl e pr oper t y s uc h as one’ s home.

2. I n c as e of f i nanc i al har ds hi p, f or i ns t anc e, t he pr oper t y r emai ns s af e and c an’ t be c l ai med or at t ac hed. I f , f or exampl e, a pr oper t y i s c o- owned, you c an ar r ange f or your hal f or s har e t o be pl ac ed i n a t r us t t hat wi l l pr ot ec t i t – and your i nt er es t . The pr oper t y pr ot ec t i on t r us t i n Tr ur o may al s o be c r eat ed t o ens ur e t hat your wi l l i s c ar r i ed out al l t i mes . You c an s pec i f y who wi l l i nher i t your s har e of t he pr oper t y ( i es ) and you c ont r ol who your benef i c i ar i es ar e. Thi s i s t o avoi d i s s ues t hat may c aus e pr obl ems wher e, f or exampl e, a s pous e r emar r i es af t er t hei r s pous e’ s deat h. The next s pous e wi l l t hen not have any c l ai m t o your s har e; your benef i c i ar i es , as was i nt ended, wi l l i nher i t t hat s har e. Of c our s e no- one i s unf ai r ; t her ef or e you ar r ange t hat your par t ner or s pous e r emai ns i n t he pr oper t y af t er your deat h, i f t hat i s t he wi s h of bot h par t i es . The pr oper t y pr ot ec t i on t r us t i nTr ur o pr ovi des f or t hes e and ot her event ual i t i es . Of c our s e i t depends on how t hi s t r us t i s dr awn up. Knowl edgeabl e, exper i enc ed s ol i c i t or s and ot her l egal br ai ns wor k wi t h t hes e i s s ues al l day l ong and t hey ar e t he ones t o t al k t o f or t he bes t advi c e, and t hey ar e i ndeed abl e t o dr aw up t hes e t r us t s and agr eement s . Make s ur e you appr oac h s omeone t hat i s t r us t ed and of f er s exper i enc e and t he nec es s ar y exper t i s e i n t hi s r egar d. The i mpor t ant t hi ng i s t hat t hi s ki nd of ar r angement ens ur es t hat you ar e abl e t o pr ovi de f or your benef i c i ar i es as per your wi s hes and wi l l . New par t ner s ’ wi s hes wi l l not s uper s ede your s s i nc e t he pr oper t y pr ot ec t i on t r us t i n Tr ur o pr ot ec t s your wi s hes . You c an be as s pec i f i c as you wi s h i n t er ms of t he doc ument you have dr awn up as l ong as i t s t ays wi t hi n al l l egal boundar i es , par amet er s and r equi r ement s . A t r us t ed l egal f i r m wi l l as s i s t you wi t h advi c e and t he dr awi ng up of t he t r us t t o ens ur e i t i s l egal l y bi ndi ng on al l .

3. About Us At W es t Count r y Es t at e Pl anni ng we of f er s pec i al i s t es t at e pl anni ng s er vi c es and as s i s t anc e. Our s er vi c es ar e ai med at hel pi ng c l i ent s pl an t hei r es t at e t o ens ur e t hat al l t hei r af f ai r s ar e i n or der . W e ar e exper i enc ed i n t er ms of al l i s s ues r el at i ng t o t he dr awi ng up of wi l l s , f uner al pl ans , pr oper t y pr ot ec t i on t r us t s , any pr oc es s es t hat hel p t he i ndi vi dual or ot her ent i t y be pr epar ed f or al l event ual i t i es r el at ed t o t he pl anni ng and pr ot ec t i on of t hei r es t at e. Our year s of exper t i s e have made us t he number 1 c hoi c e f or c l i ent s t hr oughout Cor nwal l , Devon and s ur r ounds . Our per s onnel ar e wel l pl ac ed t o as s i s t al l c l i ent s . For mor e det ai l s Vi s i t ht t ps : / / www. wes t c ount r yes t at epl anni ng. c o. uk/ Emai l : i nf o@wes t c ount r yes t at epl anni ng. c o. uk Cal l : 8001337512