Our team combines years of knowledge and expertise with a direct approach to helping you and your family protect your assets built over a lifetime of work and dedication.
“Just operates in a way that you hope they would. They are as good a company as I have ever worked with, top notch.”
Private Client, Belfast“I have confidence in them, which goes a long way in your professional relationships.”
Private Client, Antrim“There is no room for improvement. Everything and everyone excellent. Kept in touch with me at every stage and so prompt with everything totally the way a business should be run.”
Private Client, Newtownabbey“Found our meetings to be invaluable. We asked many questions and we were very impressed by the knowledge given to us. Felt every issue was comprehensively replied to and gave us confidence. Thank you so much.”
Private Client, Portaferry“No faults with the service - everything was clearly explained - no hard sells - just professional and caring attitude.”
Private Client, BangorExpertise
- Trusts are a means of safeguarding and protecting assets for the future enjoyment of other people often children, grandchildren or disabled or incapacitated members of your family or friends.
Nursing Homes Fee Asset Protection Trusts
We provide you with advice and customised documents so you comply with the legal rules in planning to preserve part or all of your home or other assets for your children or other relatives in the event that the survivor of your relationship requires to go into a nursing or care home:- Creating trust wills for the half share in the family home owned by the first spouse or civil partner to die, providing a life interest for the surviving spouse until he or she goes into care and then to the children, preventing that share from being utilised for care home fees.
What are Trusts and how do they work?
- Trusts can be set up when you are alive or in your Will on your death;
- Trusts can form an important part of asset protection or inheritance tax planning;
- Trusts can protect family assets or part of them from future dissipation;
- Trusts have to be registered with HMRC;
- Trustees have to comply with the responsibilities & obligation of being a trustee;
- Trust assets get distributed to beneficiaries when an event, usually a death, occurs.
Expertise
Our team has been built on years of market leading knowledge and expertise led by a partner and a tax director who together have over 40 years of Society of Trust & Estate Practitioners training & expertise advising:- Individuals, couples, families, business owners and farmers;
- Those planning for future frailty, possible dementia and care requirements;
- Those who are caring for and helping relatives and friends; and
- Trustees on the completion of income, capital gains tax and other tax returns
What We Do
- Advising you on the creation of a simple trust for a vulnerable family member;
- Advising you on the creation of a trust in your Will to provide for minor children members of your family or others;
- Advising you on the creation of a discretionary trust to maximise inheritance tax relief;
- Advising you on the creation of a discretionary trust to avoid capital gains tax on gifting a property asset;
- Advising you on the creation of trust wills for the half share in the family home owned by the first spouse or civil partner to die providing a life interest for the surviving spouse until he or she goes into care and then to the children preventing that share from being utilised for care home fees;
- Advising you on the registration trusts with HMRC;
- Advising you on compliance with the responsibilities & obligation of being a trustee;
- Advising you on completing tax returns for trustees and beneficiaries;
- Advising you on winding up a trust and properly distributing the assets.
Get in touch
To find out more about how we can help you with your Asset Protection Trusts (for Care Home Costs & other Family Purposes) query, please contact us.