At Heritage Will Writing, we offer specialist advice in the establishment of discretionary trusts in order to ensure what is left to them does not face unnecessary tax, can continue to be administered without the appointment by the courts of a receiver and will not undermine their existing state benefits.
WHAT IS A TRUST?
A Trust is an arrangement whereby persons (the Trustees) hold and administer property or money for the benefit of others (the Beneficiaries). The Trustees become the legal “owners” of the Trust property.
WHAT IS A DISCRETIONARY TRUST?
A Discretionary Trust is one in which the beneficiaries do not have the legal right to demand payment of Trust income or capital (unlike beneficiaries of other types of trusts). Payment is wholly within the discretion of the Trustees, as are the amounts and frequency of the payments. The Trustees’ powers are defined by the creator of the Trust in the Trust Instrument. When Heritage Will Writing drafts your will, it becomes the trust instrument.
Our Services Menu
The information provided here is intended to address the types of questions that people are often concerned about.
To see an outline of what we do and how we deliver services for our clients, please visit the Our Services page. You will find information on the key aspects of creating your will including:
Personal Reviews, Will Writing, Estate Planning & Tax Management, Lasting Power of Attorney, Discretionary Trusts, Special Provisions & Assurance (disabled beneficiaries), Severance of Tenancy, Secure Document Storage.
If you have a specific question, want more detailed information or want your will professionally prepared, then please just get in touch.