Inheritance Trusts



Many of us wish to transfer wealth to our children and wider family.

Traditionally, this is done through a Trust that’s established during your lifetime. Even more common is to leave an inheritance as a gift in your Will when you die. One thing to be aware of with gifting in your Will though, is that there is a risk of claimants challenging the Will.

Let’s say your gift property under your Will. On its own, this is deemed separate property and is protected. As soon as things become intermingled with joint bank accounts or property though, the gifting of that specific property becomes at risk.

That’s where an Inheritance Trust can be useful. It works through transferring your assets under your Will to an Inheritance Trust that you’ve established during your lifetime. This means you can keep assets in your own name until they’re transferred and protected for your chosen beneficiaries.

Want to find out more?

We can help you structure Inheritance Trusts appropriate for your family situation. We can also help you decide and document your wishes on how the Inheritance Trust should be administered. This becomes important as separate Inheritance Trusts should be established for each person you want to benefit.

Extra tip: Before you set up your Inheritance Trust, make sure you update your existing Will.