Flexible Life/Life Interest Wills: A WARNING for your wealth!
Does your Will include a Flexible Life Interest Trust and will it cater for all of your wishes today?
Answer: Only if nothing goes wrong for any of your beneficiaries during their lifetimes…
Life Interest/Flexible Life Interests Trusts are only good advice if:
- You don’t have an Inheritance Tax problem.
- You don’t enter care.
- Your spouse doesn’t remarry after you die.
- You don’t have any children from previous relationships.
- Your children don’t get divorced.
- Your children aren’t on benefits or won’t be at any point in the future.
- Your children don’t ever have issues with creditors or bankruptcy.
- Your children don’t have an Inheritance Tax problem.
If you can categorically say that you, or your family members, do not currently and, more importantly, won’t face any of the above issues, then a Life Interest/Flexible Life Interest Trust might just work for you…
If you can also confirm that any of your past, present or future families will never encounter any of the above, then carry on as you are…
Otherwise, we strongly suggest that you contact Barnet Wills to discover how you can provide the best solution to deal with the above threats.