People We Have Helped

Mr and Mrs P have three children and wanted to ensure that, in the event of both their deaths, the children were well provided for. Their eldest child was 24 and about to go through a divorce while the younger children were 14 and 16 and still at school. Mr and Mrs P were concerned that all three children were adequately provided for but were worried that they may have different needs. We set up a discretionary will trust for the couple providing that if both died their estates would be held by their trustees for the benefit of all three children. The Trustees could then decide how much to give each child depending on their needs. They could, for example, pay the younger children's school fees and delay making any payment to the eldest child until his divorce was finalised to protect the money from being assessed in any settlement with his wife.
Mr O had been married twice and had two children with his first wife. Mr O wanted to ensure that his second wife was provided for during her life, though wanted his assets to ultimately pass to his first children. We suggested a life interest trust. Mr O included a trust in his will allowing his second wife to live in the family home and receive the income from Mr O's investments during her lifetime or until she remarried. Upon her death or remarriage the house and the capital investments all pass to Mr O's children.
We acted for Mr and Mrs V in setting up a lifetime trust to provide for their disabled son. Mr and Mrs V are very wealthy and wanted to ensure they make the most of the funds they have to benefit their son. We set up a Disabled Persons Trust attracting special treatment for Income Tax and Capital Gains Tax.