Family Protection Trust Solicitors

Mary Ireland

Licensed Probate Practitioner / Director
Estate Planning Local Team Lead
Bramhall, 0161 440 0131
Get in Touch
Dan Chadwick
Dan Chadwick
1748941505
We recently sold and bought a new property, Anna B was our solicitor (both sale and purchase). Our chain was very long and there were several factors causing issues and delays. Anna and the team at the Cheadle branch, worked very hard to ensure the success of the chain. My husband and I are extremely grateful for all their hard work and support throughout the process - which at times was stressful! We would highly recommend.
Laura Anderson
Laura Anderson
1748536946
I can not speak highly enough of Anna Beavers at Mounteney, she helped us with our recent house sale and purchase, when I say helped, she guided us through it expertly, explaining things as went along, Anna was very professional but also down to earth and kept us up to date with progress. One thing that stood out for us was how responsive Anna was, ALWAYS getting in touch when she said she would, emailing back very promptly to enquiries, chased other conveyancers when needed, this was a huge positive for us and made the whole experience so much better than we thought. Thank you so much Anna!
radu muntean
radu muntean
1747855457
I have dealt with a number of solicitors during the last few years and I think that Mr. Ian McKenna is by far the best solicitor I've ever worked with.He is very efficient, he has an outstanding expertise, and he has a very high level of professionalism. All these qualities make him a great person to deal with.I really appreciate how he handled my property purchase from start to finish and I will definitely use his services again.
Hetal Knowlson
Hetal Knowlson
1747835491
Anna Beavers was our solicitor and she was excellent. Very responsive via email/call, gave good advice, navigated the challenges of sale/purchase well and managed to complete a purchase in 6 weeks! She went the extra mile to make sure we could complete so quickly. We were so glad we went with her, service was top class. Thank you Anna!
Eleanor Bowkis
Eleanor Bowkis
1747249570
Anna Beavers was our solicitor for sale and purchase. We cannot praise her enough. She was amazing throughout, extremely quick at responding to emails and kept us updated as much as possible.She ensured all funds were ready for our completion date and made everything effortless. We were completed and in our new home by 1pm! Incredible service from Mounteney and we will use them again in the future for sure.
Lucy Wiggins
Lucy Wiggins
1746529958
Very good communication- friendly, approachable staff- made the whole experience less stressful!
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Description

Trusts have become a vital financial planning tool for ordinary people with relatively modest assets. A Family Protection Trust (FPT) is a deed which is simple and inexpensive to establish and then acts as a legal “safe deposit box” for your assets designed to protect your estate against tax and probate charges.

Unless you create an FPT, then before any of your assets can be passed on as you intended, various tax, local authority and legal people may receive part of your estate. Even if you don’t think of yourself as rich, your successors may lose thousands of pounds which you intended them to enjoy.

An FPT can eliminate probate costs and enable your estate to be administered more efficiently.

Your FPT can achieve many planned beneficial outcomes including:

  • Creating a family wealth protection tool that can be used for up to 125 years
  • Control over the handling and distribution of assets
  • Possible tax benefits if combined with specific investment advice
  • Faster, cheaper distribution after death
  • Protection of assets from family circumstances and creditors.

An FPT provides access to your hard-earned wealth at all times – it can be cancelled subject to the costs of doing so.

By locking-up your assets in the Trust you can protect them – from family circumstances such as second families or divorces, or from financial disaster such as bankruptcy- and also from creditors: and whilst we would not recommend establishing a Family Trust as a method of deliberately removing assets from means testing, where the Family Trust is being set up for the other reasons mentioned, then the assets held within the Trust should not be taken into account for the purpose of assessing your liability for care home fees.

There can be arguments about what your motivation for setting up the Trust was, but under current rules Local Authorities are told that they should not infer that someone has deliberately tried to remove assets form means testing if at the time the Trust is set up you are in good health and not likely to go into care in the foreseeable future. Future legislation may of course bring changes, but as things stand you may be able to save many thousands of pounds in care home fees.

Everybody planning for their future should consider making an FPT. Couples often wish to make “mirror” FPTs whose provisions reflect one another.

How long will it take?

The time our work takes to conclude will depend on precisely what we are asked to do, but we would generally expect to have taken your instructions within two days of you having bought this product, and we would normally expect to have produced a useable template within 4 working days of your decision to buy the product. Special dispatch may be available where necessary (possibly at extra charge in some cases – please ask).

We will give you all advice necessary to complete the objective outlines, such as:

  • Completing the Trust itself
  • A revised Will, when required
  • Conducting relevant filings with HMRC
  • Carrying our property transfers if required
  • Offering trustee services if required (not included in the fixed price).

Money Matters

Your supplier is SRA-regulated Mounteney Solicitors, that charges VAT some customers may be able to reclaim

Our work will be charged at a fixed-fee of:

  • £2750 + VAT for a Single Person Family Protection Trust
  • £3941.67 + VAT for a Couple Family Protection Trust.

There is more about our fees on our website here

If you have any questions, require any further information, or would like to engage us on the T&Cs linked Our Terms in the footer below, please don’t hesitate to Contact Us.