Is your client's single Trust a ticking time bomb?

You wouldn't leave your kids a joint bank account to 'share' after you've gone...

So why would you leave all their combined inheritance to one Trust? 

When it comes to your clients distributing their assets in their Will, you may think advising them to place them all in a Trust is a simple and safe way of protecting their assets from threats and you’d be right – it’s far better to leave assets to a single Trust than to leave them to beneficiaries absolutely ... HOWEVER there is a more efficient and manageable way of doing this.

We are delighted to announce ... Multiple Sibling Trusts!

Multiple Trusts provides your clients and their beneficiaries with the flexibility to decide on the PURPOSE of each Trust, WHO they want each asset going to, and HOW they should benefit.

A Multiple Trust Strategy can be advantageous to most clients for a number of reasons, most significant being, complete autonomy. This sense of autonomy relates to both the independence of the beneficiaries of the Trust, and of the assets within.

Let's imagine the Settlor of the Trust is a father of three children, all of which he appoints as both Trustees and Beneficiaries of said Trust (a very common occurrence). This would mean that each time one of the siblings want to make a withdrawal from the Trust, they would need to have unanimous agreement from all three siblings... Now I don't know about you, but I certainly wouldn't want to have to ask my siblings permission every time I wanted to access my inheritance! Neither would I want control of my siblings decisions.

It's a fact of life that siblings are not always going to see eye to eye, and so by leaving a separate Trust for each sibling, with each individual as the Beneficiary of their own independent Trust, the opportunity for disagreement is eliminated offering each sibling complete autonomy over their inheritance and how they wish to use it.

The Multiple Sibling Trust strategy can also be beneficial if a client has different types of assets to distribute. If they decide to put them all into a single Trust with multiple Trustees then it could become easily complicated and hence, costly...

Or where the beneficiaries (often relatives) are also Trustees problems can occur when they are unwilling to co-operate with each other and could cause the Trust to be completely unworkable - incurring even more COSTS!

How can Multiple Sibling Trusts help?

By using Multiple Trusts, your client can separate the inheritance of each beneficiary, or the different assets, leaving them to individual Trusts with different beneficiaries.

The Settlor of the Trusts can also appoint different Trustees for different Trusts, seriously reducing the risk of conflicts and delays.

A group of simple Trusts is much easier to manage than a single Trust with many purposes, mixed assets, multiple Beneficiaries.

Don't leave your beneficiaries to fight it out after you've gone...

Multiple Sibling Trusts is now LIVE in the Countrywide Legacy software!

And there's more...

For those of you already utilising Countrywide Legacy's Professional Bundle, the Multiple Sibling Trust Package will be included FREE OF CHARGE!

If you would like to learn more about Countrywide Legacy and the Professional Bundle, please click here or contact us today!

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01926 514 392