What sets our Asset Protection Trusts apart from the competition?

Why use Wills and Pilot Trusts?

Assets not protected by a Trust face attack from –

 Care Fees
♦ Marriage After Death
 Divorce or separation settlements
 Creditors or Bankruptcy claims
 Taxation

All of the above threats will also apply to future generations.

Distributing assets absolutely to beneficiaries exposes those assets to risk. When assets are distributed to beneficiaries “absolutely”, (i.e. they receive cash, property or other assets, as a direct lump sum payment) so much can be lost.

These assets are then considered to be part of the beneficiary’s estate and would be at risk of attack from any future divorce settlements, care costs, creditors and taxation.

This is assuming that there is anything left to leave to their children/grandchildren!


Unfortunately, the costs involved in moving into a Care Home can literally wipe out entire savings and the family home may have to be sold to pay for care fees.

When someone enters Care, they are automatically “means tested” and ALL of their assets, including the family home are taken into account. Only those who have very few assets will escape the costs of care.

With the strategic use of Trusts, we can ensure that our client’s children and grandchildren or chosen beneficiaries are able to benefit completely, from the inheritance they want them to receive.

Using the correct Trusts and associated strategies we can provide the protection and control of a multitude of assets from those risks noted above. This protection can extend from the family home, other properties, investment products and liquid assets, Life Assurance, Pension Death Benefits and Business assets.


Many people are aware that there are strategies widely available for those wanting to protect their homes and other assets for future generations, against the threats from any future divorce settlements, creditors and bankruptcy, Care Costs and Taxation.

Here at Finance North Estate Planning Services we been successfully providing these strategies, to our clients.

However, where a client later enters care, having placed a share of their property in a Trust in their lifetime, it has become apparent that local Councils are now fighting these strategies much more aggressively than in past years and the tone of the letters now being sent to clients, or their relatives are extremely worrying.

This has resulted in many relatives, owing to their lack of knowledge and expertise, effectively “caving in”, assuming that they had no choice but to sell the family home, in order to fund the Care fees, when in reality they did not have to do so.

We have been taking on these challenges from Local Authorities, for our client’s with the correct Asset Protection strategies in place and have never lost a case yet!


So confident are we of the success of these strategies, that we offer “The Probate Preservation Plus Trust” which comes with a Money Back Guarantee.

The Probate Preservation Plus Trust (PPPT) is essentially Lifetime Asset Protection Planning. It is available for both Single clients and Couples, who wish to place the family home into Trust in their lifetime, thus protecting those assets from potential attack from:

♦ Divorce
♦ Creditors / Bankruptcy
♦ Testing for Disabled Beneficiaries
♦ Taxation & Generational IHT
♦ Care Fees
Probate Fees & Delays
♦ Costs & Delays from the Court of Protection.

Quite simply, it is a Money Back Guarantee for those who have established the planning, then later entered care and the strategy is subsequently challenged by the Local Authority.

In detail when someone has the need to enter a Care Home, the Local Authority immediately issues the necessary paperwork to be completed for “means testing” (Section 47 Financial Assessment). Our specialist Legal Team will then liaise directly with the Local Authority on the client’s behalf. If a challenge is then made by the Local Authority, all of the Legal costs incurred will be covered (up to a maximum of £500 plus VAT).

We will complete all of the necessary forms and construct any legal arguments necessary, to uphold the planning, and to win the case.

Should we fail to win the case and the client’s home is subject to the payment of their Long-Term Care Fees, then our Money Back Guarantee will reimburse them.

Remember – We have not lost a case Yet!


Our PPPT ensures that, no matter what the client might have done previously, a Chargeable Lifetime Transfer charge will never be payable.

Our PPPT ensures that, no matter what the value of the Property increases to, there will never be a Periodic or Exit Charge payable.

The PPPT ensures that, no matter how much growth in value the Property has experienced, there will never be an “unexpected” IHT liability caused by the Trust.

The PPPT has been drafted to ensure that, if the clients Executors need to benefit from the Residential Nil Rate Band, the property can fall through the client’s Will to Lineal Descendants.

The PPPT ensures that, if the Trust is successfully challenged, the client will get their fees fully refunded


To find out more please contact us below

Finance North Estate Planning Services
Cheshire Office – 0161 771 2056
Staffordshire Office 01782 963 303

Twitter –  Blog – Web – Facebook

 

Why a Lasting Power Of Attorney Is Essential For Carers

According to figures from Carers UK, around one in eight adults in the UK acts as a carer for a loved one. That’s a massive 6.5 million people in total, and that’s only set to continue to grow in the coming years. Every day a further 6,000 people take on caring responsibilities, with the total likely to pass nine million by 2037.

However, a recent survey by YouGov on behalf of Carers Trust has highlighted the lack of Lasting Power of Attorney (LPA) agreements in place for carers. The survey found that a massive 82% of respondents had not made an LPA, while even among those who had there were concerning gaps in the understanding of the different types of LPA.

But in truth, an LPA is a sensible move in these circumstances. LPAs allow an appointed ‘attorney’ to make certain decisions on behalf of someone if they are no longer able to make those decisions for themselves. They come in two distinct forms – a property and financial affairs LPA, and a health and welfare LPA – though you can go for a combined version which encompasses both.

Having an LPA in place can make life much easier for carers. For example, it may be that the person you care for needs to make changes to their home in order to continue living there, such as the installation of a ramp for wheelchair access. Without an LPA, the carer would not be able to use your money to pay for that ramp, so may end up turning to expensive credit, adding to their worries.

Carers are often best placed to know exactly what is best for the people they care for and what decisions they would make if they still had the ability to do so. An LPA empowers carers to make just those decisions with confidence.

Jon O’Brien our Power of Attorney specialist said: “Millions of people act as carers for loved ones across the nation, which can be a stressful role at the best of times. But without an LPA in place, it can make looking after that loved one so much harder. Arranging an LPA is very simple, inexpensive and can deliver peace of mind.”

Read more here about making a Lasting Power of Attorney.

Finance North Estate Planning Services
Cheshire Office – 0161 771 2056
Staffordshire Office 01782 963 303

Twitter –  Blog – Web – Facebook