Trust & Estate Management Services

Our Trust and Estate Management Services ensure your loved ones receive maximum benefit from your assets.

Trust and Estate Management

Here at ELM we’ve designed The Estate Management Plan to offer the ultimate in protection for your assets and your family.

At the core of the Estate Management Plan is our Barrister drafted Lifetime Discretionary Trust.

This type of Trust has been used in the UK for hundreds of years and is probably one of the most useful and versatile estate planning tools available.

With our Estate Management Plan, not only will you and your beneficiaries maximise the advantages of a Lifetime Discretionary Trust, you’ll also be able to utilise our extensive financial and legal support – both during your lifetime and on both first and second death.

Our clients have been benefitting from our Trust and Estate management services for many years

Here are some of the reasons why...

Assets that are held within a Trust do not form part of your Estate on death

This means that probate would not be required for those assets, and that both substantial amounts of time and money could be saved.

When you think that most banks and solicitors can charge between 3% and 5% in legal fees to administer an estate, a Lifetime Discretionary Trust becomes an attractive investment.

Added to this is the fact that your Trustees would have immediate access to the assets within the Trust. This means they can immediately set about selling any property and distributing finances without the delay and stress of waiting usually months, if not years, to obtain a Grant of Probate before doing so.

A Trust cannot be contested in the same way that a Will can

The impact of a Will being contested can be enormous, not only in respect of timescales and finances, but also from a family relationship perspective.

As the majority of the deceased's assets will be held within the Trust, they will be protected from anyone who may want to claim against the estate thus ensuring more money for the people that you choose.

Avoiding the need to sell the family home to pay for care

Care home fees can cost from between £2000- £5000 + per month. Your local authority will expect you to contribute towards this cost if your assets, including your property, total more than £23,000.

This, unfortunately, usually means the sale of the family home.

Provided that you transfer your assets into a Trust when there is no foreseeable need for care, then any assets placed into the Trust are likely to be exempt from assessment should care subsequently be required.

Protecting your property for existing children or other members of your family

As the sole owner of a property, about to enter a new relationship or marriage, an Asset Protection Trust can be used as a sensible way to protect your property for existing children or other members of your family.

Most people find it uncomfortable talking about Pre-nuptial Agreements with new partners. A Trust is something that can be set up discreetly and prior to marriage or co-habitation.

In the unfortunate case of the relationship ending in separation or divorce, assets held within the Trust should not be taken into account for divorce proceedings, as there is no personal ownership of those assets.

The assets would be owned by the Trust and controlled by the person who placed them within it and their chosen Trustees.

What's included in our Trusts and Estate Management Plan

The following is a broad outline of how our Trusts and Estate Management Plan works

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Our legal team will carefully draft two copies of your bespoke Trust document.

This document will set out the legal parameters of your Trust as per your instruction.

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If you have paid off your mortgage, and wish to transfer a property in its entirety to the Trust, we will prepare all of the relevant Land Registry documents for you to sign.

Our Conveyancer will then carry out the necessary work to complete the transfer on your behalf.

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If there is still a mortgage or similar charge on the property, we will draft a Deed of Equitable Assignment.

We then notify the Land Registry that any equity held within the property, after those charges have been paid, belongs to the Trust.

Once the mortgage has been cleared, we will then fully complete the transfer.

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Once the documents have all been signed, we will store the Trust Deed within our fire proof facilities along with any house Deeds, Wills and any other relevant documents.

It is essential that your Trust Deed and Will are kept in immaculate condition.

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During your lifetime we will assist you to place the majority of your assets into the Trust.

Any assets (not held jointly) over the £5000 limit set by the probate service that are not placed within the Trust will be frozen until a Grant of Probate is achieved.

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Upon notification of the first death (of a couple), we will act swiftly and compassionately.

The main issues facing the surviving partner tend to be dealing with life assurance policies, the cancellation or name transfer of bills and pension issues.

We will provide you with the most comprehensive support during this time, to take away the worry.

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For a standard first death service that usually requires a very simple Grant of Probate and the transfer of property and household bills, we charge our Trust and Estate Management Plan clients just £500.00 (index linked) at the point of those services being required.

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On the second death (of a couple), we provide their Executors and Trustees with the full range of estate administration services.

These include the valuation of all assets, dissolving the Trust or the required paperwork for your Trustees to take it over, and financial and legal support as to the distribution of the assets within the Trust.

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If there are assets still held outside of the Trust and a Grant of Probate is required, then we would provide this service to your executors for a discounted maximum of 1.5% of those assets should they require it.

If any extraordinary issues arise, such as assets abroad or a contestation of the Will, these services can also be provided at a discounted rate to the executors of Trust and Estate Management Plan clients.

Why choose ELM

Our dedicated legal team have vast experience within the Wills and Probate sector, allowing us to become one of the top providers of Will Writing services in the UK.

We are specialists

We are a specialist Wills, Probate & Trusts company. This is all that we do. As a result, we're able to provide the highest quality service possible - something that is reflected in our fantastic customer reviews.

Over 20+ years experience

ELM was established in 2000 and has been providing a professional and reliable service ever since. We are members of the Institute of Professional Will Writers and our in-house training development plan means all our employees achieve industry-recognised qualifications.

We have helped over 30,000 people

We have helped over 30,000 people to complete their Wills, leaving them safe in the knowledge that their family’s interests have been properly protected.

Free no-obligation enquiries

Because everyone's circumstances are different, we offer free no-obligation enquiries, ensuring you get a personalised service that meets your specific needs.

Make a free enquiry today

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