Lifetime planning for your most important assets

An Asset Protection Trust (‘APT’) is a trust that is put in place during your lifetime rather than coming into force on your death (as is the case with a will trust).

Some people prefer the reassurance that everything is in place during their lifetime rather than leaving assets to be used at the discretion of trustees after their death. The benefits of this type of trust include:

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• No claim on the estate can be made over the assets transferred into the APT

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• Assets are not included as part of the client’s estate for probate purposes

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• Where the asset is a property, the APT can reduce the lengthy delays often associated with probate when dealing with a property.

Crucially, any assets within the APT will not be regarded as the capital of the client if they require residential care in the future (only any income will be assessed under the current rules).

The assets would, however, be assessed by the Local Authority if there had been a deliberate deprivation of capital in order to avoid care costs. This is a complex area and we’d recommend that you speak to one of our advisers if you need any more information on this subject.

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Please use the contact form below to discuss your particular circumstances.