Putting your assets into a family Asset Protection Trust means you can make sure they go to the people you choose after you pass away. This can be according to the trust’s rules or your will. If you’re worried about any beneficiaries who might not handle their inheritance well, are going through a divorce, or have financial troubles, the trust can keep their share safe until it’s a better time to give it to them. If you have children from a previous relationship and want to make sure they get something after you’re gone, even if you’re leaving everything to your current spouse or partner, this trust can help protect their share. Plus, if your beneficiaries might have to pay a lot of inheritance tax, putting your assets in a trust can help keep more money in the family for them and future generations.

The good thing about this trust is that it helps avoid some costs, like those for managing your estate (probate costs) or potential care costs when you’re older, as long as it follows certain rules. And when it’s time for the trust to end, your trustees can give your assets to your beneficiaries easily, without any complex steps or needing special permission.