Most people don’t choose when they are going to die which means most beneficiaries can’t choose when they receive their inheritance. When the time comes it may not be the best time. For instance they may being going through a divorce or a bankruptcy and the inheritance may be lost during this process.
In addition, leaving an inheritance directly to a loved one may cause or worsen an inheritance tax situation and when they die be taxed at 40%.
By leaving an inheritance to beneficiaries in a Discretionary Will Trust (created on death), instead of leaving it to them directly, the money does not form part of their estate and is therefore protected against threats such as divorce or bankruptcy and does not form part of their estate for IHT purposes. They still have access to the money.
The price for a single Will including a Discretionary Will Trust is £495, for a couple with mirror Wills it’s £695 but can be reduced by up to 50% if taken with one of our Estate Protection Packages.