We plan for the future to insure the present. A Life Time of Flexibility Chelmsford Interest Trust brings security for you - and flexibility and peace of mind for those you care about.
A FLIT is a type of legal mechanism that you include in your will to ensure that your inheritors are taken care of, in the event you are not around to take care of them.
It allows you to provide your spouse or partner with an income for life and have the capital paid to your children or other beneficiaries.
Flexible Life Trust is for clients who want to leave provision for a surviving spouse to remain outside of their estate for future generations.
It’s especially valuable for blended families or if maintaining some control over assets is an issue.
It makes regular payments to your spouse or partner to keep him or her financially secure.
Constructed of Life Portable shape, this benefit can be personalized for living expenses, medical expenses or other personal financial obligations.
More than a legal instrument, Flexible Life Interest Trusts Chelmsford are a protection for the people who matter to you. From care expenses to inheritance planning, they provide financial security, control and long-term protection.
Yes, capital may be paid to children or others by trustees if it is needed in the particular situation. Partial distributions can be made with a Flexible Life Trust even before the death of the surviving spouse—to satisfy family need as it develops.
The strength of the Flexible Life Interest Trust lies in the trust that the trustees have been provided with. They also have the power to make changes to, reform or move the trust if it is in the best interest of the family or suits them better in today’s financial world.
Money in a Flexible Life Trust is also often protected if the surviving spouse moves into a care home and friends, or others, can be named as trustees if the original surviving spouse trustees no longer exist at the date of the first death. This will prevent you from letting your children down more than is necessary and robbing them of even a part of their inheritance.
No, the Flexible Life Trust is also able to contain other types of assets, for example property, business interests, shares and other types of investment. This is suitable for those with blended assets portfolio who want to maintain control over the future of where their estate will go.
Your will kicks in and the trustees you have named take over. The task for them is to control and be very strategic with the Flexible Life Chelmsford Trust, use it to pay money or capital as the rules you have given, or requested, and absolutely according to what your beneficiaries needs might be Is Made Use Of for Inheritance Tax Planning?
Yes they can as along as you have a properly drafted FLIT) this can have significantly beneficial tax implications in terms of the IHT that is payable. Since the assets are not automatically transferred into the estate of the surviving spouse, they too would be out of the tax bar on the second date of death on being transmitted to the next generation. What Are The Risks of Not Creating a Trust?
If you have not incorporated a trust, there is a risk that the distribution of your assets may not reflect your wishes. Without a LIfE structure you could be exposed to tax issues, disputes and lose control of how your estate is used.
Better to move before things quite literally close, unexpectedly. A Chelmsford Interest Trust from Life Planning provides an amount of flexibility that in your current life, you have no needs that exceed what you already have established.
I guess it would be fair to say you’ve planned ahead already if you're a new family, a growing family or an established family with assets that are important to you but could use some protecting.