Choosing the Right Trust for Your Client’s Will - A Practical Guide

Introduction

It can be tempting to rely on a familiar ‘go to’ trust when drafting a client’s will, but the most familiar option is not necessarily the most appropriate. Choosing the wrong trust can have significant consequences for asset protection, beneficiaries and tax.

This short webinar will explore the range of trusts available for use in wills and, through practical case studies, consider how to identify the most appropriate structure for different client circumstances. It will examine the key factors that should inform the decision, including the client’s objectives, the nature of the assets, the needs of the beneficiaries and the relevant tax implications.

Designed for will writers, solicitors and other practitioners involved in drafting wills, the webinar will focus on trusts used to protect assets from sideways disinheritance, potential care costs, third parties or beneficiaries who may be vulnerable to poor financial decisions. You will gain practical insight into selecting and using trusts that are properly aligned with your client’s circumstances and objectives.

A good understanding of trust and estate taxation is required.

What You Will Learn

The webinar will cover the following:

• IPDIs and their practical use in will drafting
• Nil Rate Band Discretionary Trusts and when they may be appropriate
• RNRB Trusts and the key considerations for preserving the residence nil rate band
• Two-Year Discretionary Trusts and their role in estate planning
• Full Discretionary Trusts, including flexibility and asset protection considerations
• Trusts for minors and the options available for protecting and managing inheritances for children