Lifetime Trusts and Care Home Planning

Lifetime trusts are set up during a settlor’s life, and assets or money settled into them immediately. This money or assets can be loaned out to beneficiaries by the trustees at any time, or can remain within the trust and be invested.

  • Family Gift Trusts are a much under-used vehicle. Also useful for Inheritance Tax (IHT) planning, they allow you to make gifts into the protected trust environment for your family or loved ones whilst you are still alive. The reason these are IHT effective is that every 7 years, you can put up to £325,000 into them (although many people choose to utilise this even for much smaller gifts) which will start a 7 year clock, and once passed this will be considered to be outside of your estate for tax purposes.

  • The main risk with this product is that one the funds are in the trust, the settlor cannot access the funds for themselves. The reasoning behind this is that if you were still able to benefit from the funds, they would not be able to be classified as outside of your estate.

  • To find out more information on types of Gifting and the benefits of using this technique, please click here to be taken to Inheritace Tax Planning.

Care Home Planning is a very interesting area and something we work on with many clients, regardless of their age. With care costs in South East England at such high rates, we can consider bespoke plans with our clients to ensure they are covered if they ever need to go into care. We also help individuals with their care fees assessments.

If you are concerned about Care Home Planning, then now is the time to get your full financial planning into place. If you are deemed mentally incapable by a medical professional, you will no longer be able to make a will or trusts, give substantial gifts or create Lasting Powers of Attorney as there is no proof that you have the competency at the time to make those decisions.


Without a will, the strict and rigid ‘Rules of Intestacy’ apply. This means that instead of you making decisions as to how best to distribute your estate, the law decides.
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Trusts play an integral part in protecting your wealth, giving you control over how your assets will be used in the future and confidence that they will protect and preserving family assets according to your wishes. e.
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Inheritance Tax Planning

IHT is regarded as one of the most punitive taxes, at 40% on anything that you own at death over the Nil Rate Band. Many find that they are left with large tax bill that takes nearly half of the inheritance intended for their loved ones.
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Lasting Powers of Attorney

Lasting Powers of Attorney, also known as living wills, are documents that allow you to appoint people to make decisions on your behalf if ever the time should arise that you are mentally incapable of doing so.
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Ascot Estate Planning Ltd is a company registered in England and Wales, Company Number: 09269434. Our registered address: Scotch Corner, London Road, Sunningdale, Berkshire, SL5 0ER. Unless otherwise states, the information in this document was valid on 14th February 2018. This documents is not intended to provide advice, and not all services described will be suitable for all, you should seek appropriate advice.  The information and opinions expressed herein are considered valid at publication, but are subject to change without notice and their accuracy and completeness cannot be guaranteed. No part of this document may be reproduced in any manner without prior permission. © 2018 Ascot Estate Planning Ltd. Please note: This website uses cookies. To continue to use this website, you are giving consent to cookies being used.