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01225 683062 / 01373 593193
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TRUSTS

Goodwills are able to create a wide range of trusts. Details of the most popular trusts (for children, for the disabled, and for property) we use are listed below, however we are able to provide a wider range of trust services - details can be provided on request.

CHILDRENS PROTECTIVE TRUSTS

A Children’s Protective Trust (or ‘Bereaved Minor Trust’) is a type of Trust that is set up to ensure that your children are able to have responsible access to funds as they grow up. We include Guardianship provisions in our Will but it is essential that your chosen Guardians are able to manage finances in the best interests of your children, should something happen to you. Our Trusts mean that funds can be used to pay for your children’s education, holidays and living costs whilst they grow up, but ensure that they only receive the full balance of your Estate when they are of a responsible age (this can be from 18, but between 21 and 25 is usual). This type of Trust also means that should bereaved children run into difficulties, such as divorce, drug or alcohol problems, the end balance can be protected until these issues have been resolved. The Trust also means that your children will be able to have recourse to state help without your Estate needing to be eaten up to finance this.

DISABLED BENEFICIARY TRUSTS

If you have a disabled relative or child, then it is certainly in their best interests for you to have this type of Trust included in your Will. These Trusts are tax efficient, whilst also ensuring that a disabled beneficiary is able to claim the help they require from the State, without having to use the funds that you have given to them. In the case of physically disabled beneficiaries, this type of Trust can be run primarily by the beneficiary him or herself but, in the case of mentally disabled beneficiaries, this type of Trust will generally be run by other trusted friends and relatives.

PROPERTY TRUSTS

This is a popular type of Trust which protects each half of the property from care home fees and remarriage of the survivor after second death. Marriage revokes all former Wills and it is not uncommon to see children cut out – this type of Trust is one way to ensure that your children receive your share of the property. The Trust also means that should the survivor of a couple go into a care home, then the share of the house of the first to die will be protected from these fees and will pass to the children or other chosen beneficiaries.

This type of Trust is very popular, as it offers an excellent level of protection; in particular, the Trust should almost always be set up when a couple has children from previous relationships. Although, even where this is not the case, this type of Trust is highly advisable.


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Contact Information

  •    01225 683062 / 01373 593193
  • Your local Goodwills consultants are based in Somerset and Wiltshire.

    Head Office Address:

    Goodwills Legal Services Ltd
    3rd Floor
    Premier House
    Lurke Street
    Bedford
    MK40 3HU.

 


 

Goodwills Legal Services Ltd head office which is shared with our sister company, Premier Solicitors.

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