Trusts

Trust Creation & Administration

Our Wills and Probate team can also advise on the management of trusts including responsibilities and power of trustees, dealing with legacies to minors, protecting assets from possible creditors and taxation of trusts. We also advise on the use of trusts for tax planning purposes.

Care Home Funding

As the average life spans for men and women increase, it is important to give some consideration to the possibility that you may live in a nursing or care home. One of your concerns may be about funding your care and that is good reason to consider planning for this eventuality now. You can get financial help in some situations from the local council and NHS however the rules regarding funding can be complicated. Coles Miller can help with this matter and offer practical advice.

Property Trust Wills

You be concerned that your property would have to be sold to meet the cost of such care.

It is possible to prevent this by making Property Trust Wills. Property Trust Wills contain a provision that upon your death your share of the property can be held upon trust for your children or other beneficiaries, whilst allowing your partner to live in the property for his/her lifetime. In this way you can pass your share of the property to your children or other beneficiaries and at the same time protect your partner.

Another benefit of Property Trust Wills is that, in the event your spouse/partner were to re marry or enter into a Civil Partnership after your death, your share of the property would be preserved for your children or other beneficiaries. Marriage or entering into a Civil Partnership automatically revokes a Will. Therefore if your partner does not make a new Will following any subsequent marriage or Civil Partnership, his/her new partner and family may benefit from your share of the property.

For more information about our Peace of Mind Package click here.