We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Setting up a Trust
sukh38
Posts: 115 Forumite
Hi
What is the best (cheapestlway to set up a trust - I have 2 life insurance, 1 residential and rental property to protect.
What is the best (cheapestlway to set up a trust - I have 2 life insurance, 1 residential and rental property to protect.
0
Comments
-
The life insurances can probably be written into trust for free - ask the life insurance companies. The properties will need a solicitor; you will need to ring around a few local solicitors to ask them their prices. They should offer a free initial consultation over the phone where you can explain what you want to achieve and they can tell you the expected cost of the legal work to setup the trust.The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.0
-
Why do you want a trust, they often come with more drawbacks than benefits.0
-
What types of trust?
Life assurance is relatively easy to set up and you can do it at no cost. However, not all life assurance should be placed in trust.
As this is the investment section, are you referring to life assurance with an investment element or an investment type you already have or want to put in place? For example an onshore/offshore investment bond is often placed in trust.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
1 residential and rental property to protect.From what?0
-
You should take expert advice from a solicitor specialising in Wills and Trusts.
https://content.step.org/step-directory
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards