To understand this, it helps to understand what a Trust is.
A Trust is a very simple legal arrangement to make sure the assets you are leaving to your loved ones are looked after as you intend whilst you are alive (especially if you lose mental capacity or go into care) and after you die.
There can be more than one of each type of person in a Trust. Trustees and beneficiaries can be the same people — and often are.
A Family Asset Trust is a way to protect the value of your estate while you are still alive so that your loved ones can inherit as much as possible when you die.
Click here to find out more about the benefits of setting up a Family Asset Trust.
Did you know?
A Family Asset Trust protects a family for up to 125 years from the date it was created. Your partner, your children, your grandchildren and your great grandchildren could all benefit.