ADVICE FOR Leaving assets to loved ones through

Trusts

Everyone has at least a little knowledge of what a will is, yet so many of our clients have no idea how a trust works. Trusts are actually an extremely easy and effective way to plan how your property, money and other assets will be distributed when you die. As well as speeding up the process, a trust also comes with a greater guarantee than a will, making it a very popular choice for people who want to ensure their loved ones receive everything they deserve.

We’re based in Hull and East Yorkshire and ready to help you decide whether a trust will suit your personal needs and wishes. Mortgage Advice Firm will not provide advice relating to Trusts and will introduce you to a 3rd party.
‍
Please note that neither Mortgage Advice Firm Ltd nor PRIMIS are responsible for the accuracy of the information provided, or the advice received by a 3rd party.

Your guide to trusts

As a first-time buyer, you must have plenty of questions regarding how to take out a mortgage. Below are the top Q&As to get you started, but that’s only the beginning of our expert advice and tailored guidance.

Have a read through these most common questions to familiarise yourself with the process, then get in touch to find out how our mortgage advisors can assist your first-time buyer journey.

common QUESTIONS
What is a trust?
How does a trust work?
What can I put into a trust?
What could happen if I don’t have a trust?

What is a trust?

A trust is a straightforward legal arrangement that lets you leave assets to family members, friends or whoever you decide to be your beneficiaries.

For tailored advice on trusts and estate planning, get in touch today. Mortgage Advice Firm will introduce you to a 3rd party to discuss Trusts and Estate Planning. Mortgage Advice Firm Ltd do not provide Investment Planning Advice.
‍
Please note that neither Mortgage Advice Firm Ltd nor PRIMIS are responsible for the accuracy of the information provided, or the advice received by a 3rd party.

How does a trust work?

A trustee (the person or people appointed by you) controls any money or assets included in the trust, which they must use for the benefit of one or more people (the beneficiaries). You can appoint anyone over the age of 18 as a trustee.

Trusts are very popular, as they have several advantages over a will. For instance, a trust allows your trustees to avoid probate, which is a legal process followed by a court in order to transfer ownership of the assets over to your beneficiaries. In other words, a trust takes effect as soon as it’s signed, whereas a will requires a lengthier process that begins when you die.

For tailored advice on trusts and estate planning, get in touch today. Mortgage Advice Firm will introduce you to a 3rd party to discuss Trusts and Estate Planning. Mortgage Advice Firm Ltd do not provide Investment Planning Advice.
‍
Please note that neither Mortgage Advice Firm Ltd nor PRIMIS are responsible for the accuracy of the information provided, or the advice received by a 3rd party.

What can I put into a trust?

Property, financial assets (such as stocks and shares), life insurance policies and a wide range of other assets can all be included in a trust. Writing a trust ties in with inheritance planning and is an effective way to ensure that your loved ones instantly receive what you want to leave to them when the time comes.

For tailored advice on trusts and estate planning, get in touch today. Mortgage Advice Firm Ltd nor PRIMIS are responsible for the accuracy of the information provided, you will be introduced to a third party, Comran Taher of Truly Independent.
‍
Please note that neither Mortgage Advice Firm Ltd nor PRIMIS are responsible for the accuracy of the information provided, or the advice received by a 3rd party.

What could happen if I don’t have a trust?

Having a trust in place is ahighly efficient and effective way to plan the distribution of your assets whenyou die. Not having a trust could result in a delay in your loved onesreceiving a pay out, as they would have to apply for probate and wait for it togo through the courts. Even then, there is no guarantee they will receive thefull pay out. Meanwhile, a trust ensuresthat your trustees take ownership over your assets and distributes them inaccordance with your wishes.

For tailored advice on trusts and estate planning, get in touch today. Mortgage Advice Firm Ltd nor PRIMIS are responsiblefor the accuracy of the information provided, you will be introduced to a thirdpart, Comran Taher of Truly Independent.
‍
When would you like to chat?

We appreciate that you have a busy life and have designed our services around convenience, accessibility and a hassle-free experience. Simply let us know how and when you’d like to meet up and we’ll make sure to be available when you need us.

Let's discuss your plans
First Time BuyerRemortgageMoving HomeHome Improvements or Releasing Equity
Life InsuranceCritical IllnessIncome protection
PensionsInheritance Tax Planning InvestmentsTrusts
About UsContact Us
Martin Lawson CeMap
07791 722134
martin@mortgageadvicefirm.co.uk
The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.
Mortgage Advice Firm Ltd is an Appointed Representative of PRIMIS Mortgage Network, a trading name of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority. Registered Office: 2 Exeter Street, Cottingham, East Riding of Yorkshire, HU16 4LU. Registered in England& Wales. Company Registration Number 13333222.
Complaints
Customer Privacy
© The Mortgage Advice Firm