Ultimate Family and Property Protection Trust Package (FPPT)
In addition to all the benefits included with the Property Protection Trust this ultimate package adds protection for your family’s inheritance with the use of Discretionary Trusts and provides flexibility and peace of mind.
The following lists some of the more common reasons why our clients ask us to set them up with the full Family and Property Protection Package:
- “I want to protect my daughter’s inheritance if she gets divorced in the future”.
- “I would like to help my grandchildren go to university or buy their first car”.
- “My son has a drug problem. I need peace of mind that his inheritance is used wisely for him, and not wasted”.
- “I wish to protect my children’s inheritance from future care fees”.
- “I want flexibility so my family receive what they need”.
- “My daughter has a mental health disability, so I want people I can rely on to manage her money”.
Why use a Family and Property Protection Trust Will?
The benefits of the PPT have already been well documented but there are many reasons why including a Discretionary Trust in your Will can help your loved ones. (See above)
This type of trust is effective because the assets are held and managed by the Trustees to distribute to the beneficiaries at their own discretion.
Assets are protected because the beneficiaries do not own the trust fund assets. Trustees will only make distributions if they think it is wise. This means your legacy is better protected from third parties or being squandered by beneficiaries.
You can appoint family and friends (including the beneficiaries) as your Trustees but you must be confident that they will act fairly. Between two and four Trustees should be appointed. Alternatively, you can appoint a professional Trustee for neutrality and expertise.
The package includes a Letter of Wishes. This document sits alongside your Will and helps your Trustees to understand the aims you had in mind for how the Trust Fund should be used.