You cant plan for tomorrow if youre held hostage today. Flexible Life Guildford Interest Trust offers security for life and flexibility and peace of mind for your family.
A FLIT is a legal device which can be written into your will to ensure that even when you are not here to make sure things are run the way they should, there is still a guarantee that your beneficiaries are well taken care of.
It allows you to provide your spouse or partner with an income for life, while preserving the capital for your children or other chosen benificiary.
A Flexible Life Trust is right for anyone who would like to provide an income for their surviving partner and preserve an inheritance for the next generation.
It is especially valuable for blended families or if maintaining control over assets is a concern. https://guildford.trusted-willwriting.co.uk/flexible-life-interest-trust/
The trust makes regular payments to your spouse or partner from what’s left in your estate to provide for their financial security.
Available as part of a Life Portable plan, the benefit can be used for living needs, medical expenses or personal financial use.
The Flexible Life Trust is more than a legal instrument — it’s the protection of your dear ones. From the price of care to your plans for inheritance, it provides security, control and long-lasting cover.
Yes, trustees can make a distribution of capital to children or others if this is appropriate in the circumstances. With a flexible life trust even partial distributions can be made before the surviving spouse dies — to meet family need as the family’s needs develops.
The power of the FLIT is in its powers that trustees are to be given. They can change, amend or reposition the trust however they see fit for the family or to work better with current financial circumstances.
If the surviving partner moves into a care home, funds may be protected from being used to pay for care fees in Flexible Life Trusts. This will help you not to leave less inheritance for your children, than it is possible.
No, the Flexible Life Trust is also able to accept a wide range of other assets in addition to cash including property, business interests, shares and other investments. It will appeal to individuals who have a mixed assets portfolio and want to influence where their estate goes.
Your will takes effect regardless, and the trustees you appoint are then in charge. Their role is to look after the Flexible Life Guildford Trust in a responsible manner and pay out income or capital as outlined by you, but ultimately based on your beneficiaries’ requirements. Will This Trust Be Beneficial for Inheritance Tax Planning?
Yes – if you have a properly formatted FLIT there is likely to be an effect on the level of IHT due. Because the assets do not automatically transfer to the surviving spouse’s estate, they may be beyond the tax bar on the second death when passed to a subsequent generation. Are There Risks to Not Having a Trust?
Without a trust, there are chances that your assets may be distributed contrary to what you wished for. Without a Flex Life structure there can be tax issues, disputes or an inability to control where your estate is applied.
The time to act is before things suddenly close. Setting up a Flexible Life Guildford Interest Trust beforehand could protect loved ones and ensure your wishes are kept. Whether you’re newlywed or increasing your family numbers, if you’re an established family with desired gifts set in stone awaiting protection, you have planned between the lines for your future already.