Protecting your assets with Trusts and effective Estate Planning
Most of the people within the UK (65%), do not have a valid will to enable them to leave their assets to the people they want to, when they die. This leaves them vulnerable to having their: savings; investments; life insurance; pensions and property passed to bloodline family that they may not even know, or indeed like.
For the remaining 35% who have written a will, they may have done basic mirror will planning: leaving assets to each other on death, then onto children in equal shares.
But, what happens if you die and your spouse/civil partner re-marries after your death? What if they then get divorced or your spouse dies before their new spouse? Your blood children may get sideways disinherited in that event.
What if when you both pass away your children have issues like:
- Money problems
- Become disabled
Their inheritance may be at risk at this stage.