The Goodwills Childrens' Protective Trust
Not all trusts are the same.
You can call us for more information based on your specific circumstances on 01666 744002
What is a Childrens' Protective Trust?
A Childrens' protective trust helps ensure your young children inherit at the right time should you die whilst they are still young. It can be written in your Will and will be created on your death.
What can a Childrens' Protective Trust do?
You can draw up a letter of wishes explaining how you would like the trust to be run.
You can appoint appoint trustees so that they can manage the trust in accordance with your wishes.
You can choose an age where the children can inherit, or leave it up to the trustees to ensure they are responsible enough.
You can decide whether funds can be released to the guardians to ensure the children have the standard of living you would have provided yourself.
You can allow partial withdrawals for education, or other reasons that you or the trustees in accordance with your letter of wishes would agree were worthwhile.
What can the Childrens' Protective Trust hold?
The Childrens' Protective Trust will usually hold cash and investments. In some circumstances it can contain property, although there are more suitable trusts if property is involved. The trust can help ensure these assets remain in the family.
How do beneficiaries get their inheritance?
The trustees will control the distribution of assets in accordance with your letter of wishes, and will use their discretion where you allow or require it.
How long will a Children's Protective Trust last for?
It will usually last until the youngest child reaches a predetermined age as determined by you.
What about beneficiaries yet to be born?
The Childrens' Protective Trust allows for different classes of beneficiary and can include children that are born after the trust is made. The letter of wishes should be updated to reflect the additional beneficiary if required.
Utilise our expertise!
Don't worry if it all seems quite complicated. Our role is to hold your hand every step of the way and answer all the questions you might have. Goodwills Wilts and Glos can provide a home visit service within many parts of Wiltshire and Gloucestershire or you can visit a senior client consultant in their offices in Malmesbury. Please contact us for an initial consultation or should you have any questions.