There are many different types of Trust, Bare, Discretionary, Gift but one of the most commonly used is that of Asset Protection sometimes also called Lifetime Trusts.

Increasingly, clients wish if at all possible to avoid the Probate process after their deaths for their loved ones

The benefits of having a trust

Asset protection trusts are fairly commonplace where your home is transferred to trust in your lifetime but you are still benefitting from the trust by living in the home.

These can be useful to avoid probate delays in certain circumstances.

Holding assets in a Lifetime / Property Protection Trust can ensure that, if your children/chosen beneficiaries were subject to divorce proceedings, what you intended them to receive could be better protected.

The Trusts I instruct on also include an additional document to enable the Residence Nil Rate Band (RNRB) to be claimed if applicable.

If your children/chosen beneficiaries are subject to creditor claims/bankruptcy then the Trust could provide more protection from such claims.

The Trust can be useful to avoid Office of the Public Guardian (OPG) restrictions when acting under Power of Attorney as the trustees can administer the funds.

It can be useful to mitigate or reduce 3rd party threats in certain circumstances, albeit deliberate deprivation must always be considered.

Holding assets in a Lifetime Trust can ensure that they do not add to your beneficiaries’ estates and impact on their own IHT.


The ability via a resolution document referenced to the Trust to be able to use the RESIDENCE NIL RATE BAND (RNRB) It is essential that recommended death planning trusts are also in place alongside the trust and resolution. This not only enables the RNRB to be claimed but also gives the maximum possible asset protection on-going for your chosen beneficiaries.

The Trust also includes a protective clause that ensures that there will be no Chargeable Lifetime Tax entry charges and no periodic and exit charges during the lifetime of the settlor.

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Considering setting up a trust can be a step towards secure and effective estate planning. Here’s why trusts, particularly Asset Protection or Lifetime Trusts, are a sensible choice:

  • Skip Probate Delays - Spare your loved ones the hassle of the probate process.

  • Protect Your Assets - Shield your hard-earned assets from unforeseen circumstances affecting your beneficiaries.

  • Unique Features - Benefit from features like the ability to claim the Residence Nil Rate Band (RNRB), which can offer substantial asset protection for your chosen beneficiaries.

  • Smooth Operations for Trustees - Make it easier for trustees to manage assets without hindrance from the Office of the Public Guardian (OPG).

  • Guard Against Third-party Interferences - Secure your assets from possible third-party threats and interferences.

Join me in exploring how to build a trust that safeguards your assets while providing peace of mind for you and your loved ones.

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