Did you know that by incorporating a trust into your Will, you create a powerful tool that offers flexibility, protection, and peace of mind for your family’s future?
Trusts are especially useful for blended families, people with minor children, and individuals with disabilities. They can also help in second marriages where balancing support for a spouse and inheritance for children is important.
There are several types of trusts to consider, and there is no one-size-fits-all solution. Common examples include a spousal trust, which provides for a surviving partner while preserving assets for other beneficiaries; a Henson trust, which protects a disabled beneficiary’s entitlement to government benefits; a minor’s trust, which manages assets until the child reaches a specified age; and a discretionary trust, which offers flexibility in distributions based on beneficiaries’ changing needs. The possibilities are vast.
Why use a trust? Because it offers real advantages, a trust can protect assets from creditors, preserve family wealth, plan for special needs, support beneficiaries with spending challenges or addictions, and even reduce or eliminate probate.
Planning ahead means peace of mind for you and your loved ones. Hummingbird Lawyers LLP can assist you with not only setting up the appropriate trusts for your family, but we will also help you understand your options so that you can make the best decision for your loved ones.
The content is for information purposes only and is not legal advice, which cannot be given without knowing the facts of a specific situation. You should never disregard professional legal advice or delay in seeking legal advice because of something you have read on this newsletter. The use of this newsletter does not establish a solicitor-client relationship. If you would like to discuss your specific legal needs with us, please contact our office, and one of our lawyers will be happy to assist you.
