Because life is full of What ifs
For most of us, the reason for making a Will is because we want certainty. We want to be sure that the ones we care for most receive exactly what we want them to inherit from our estate with the minimum of delays and deductions after we have passed on.
A Will is essential to identify what you want to happen but it doesn’t deal with many of the ‘What ifs’ in life that can affect virtually all families and prevent your wishes from being respected or cause your heirs to lose their inheritance.
In addition, a Will does not address the delays and potential costs caused by Probate, prevent generational Inheritance Tax or the potential burden placed on beneficiaries to pay an Inheritance Tax liability prior to receiving their inheritance.
There are many benefits of using a Trust as part of your Estate Planning that a Simple Will alone wouldn’t provide. These benefits fall broadly into three main categories:
Protecting your wishes
How inheritance can be lost and how it can have an adverse effect
How avoiding Probate provides instant access to inheritance & mitigates cost.
How Trusts can prevent generational Inheritance Tax and the burden placed on your heirs.