Family Protection Trust Solicitors

Mary Ireland

Head of Estate Planning Section / Director
Head of Bramhall office
Licensed Probate Practitioner
Bramhall, 0161 440 0131
Get in Touch
Ellie Fowler
Ellie Fowler
1730298577
My partner and I recently bought our first home. Anna was our solicitor and she was brilliant. As first time buyers we didn't have any knowledge of what to do/expect but Anna was great at explaining the process. Anna also was great at keeping us updated, at each stage we knew what was going on and an estimated time frame - we couldn't have asked for anything more! Thank you again for helping us.
kon kwok chu
kon kwok chu
1730291521
We would like to express our sincere gratitude to Anna for her exceptional representation during the sale of our property.
Katie and the team at the Cheadle Mounteney office have done sterling work on the sale of our property and got us over the line. Katie in particular applied extra detective work in regard to an historic oversight with the Freehold purchase (nothing to do with Mounteney) which could have scuppered this sale. Thank you Katie for your support and customer service which is much appreciated. Liz and family.
Ian Dillon
Ian Dillon
1729863805
I have recently sold a property using Mounteneys Conveyancers Cheadle. The service I received was excellent, despite one or two complexities. Mounteneys staff were patient, supportive and kind. I would recommend Mounteneys to anyone .
Jay In Woodford
Jay In Woodford
1729806460
We are extremely pleased with the whole Cheadle Office Team who dealt with the sale of our Apartment in Cheadle. I would like to thank Katie in particular who was professional and tenacious in keeping the Sales process moving in the past few weeks. I am delighted how quickly Katie made the sale move to completion. She was thorough and fantastic with her communication. I wouldn’t hesitate to use them again and will be recommending them to Family and Friends - Well done Katie - Keep up the great work - Highly Recommend.
martin unsworth
martin unsworth
1729763956
Katie and the team at the Cheadle Office have handled my sale with great aplomb. Fantastic communication and a great service, thank you!
js_loader

Make An Enquiry

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:

  • £2500 + VAT for a Single Person Family Protection Trust
  • £3583.34 + 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.