Life Interest Trusts

As we get older, many of us worry about what will happen if we require care that means we cannot remain in our own home.

The situation is made worse if there are also concerns about how any such care will be funded.

Residential care can be costly. However, there are measures you can take to ringfence certain assets and ensure that potential inheritances are not swallowed up in care home fees.

Life Interest Trusts are an ideal way to protect your family and loved ones while sheltering your most valuable assets for future beneficiaries.

At Bridge McFarland LLP, our experienced inheritance planning solicitors can offer advice and guidance on establishing and managing Life Interest Trusts.

Our highly experienced team can help you create a Will that includes a Life Interest Trust, guiding you through the process and ensuring you are fully aware of the various implications.

For more information about Life Interest Trusts or to speak to one of our solicitors in Market Rasen, Hull, Grimsby, Lincoln, Brigg, Anlaby, Scarborough or Louth, call Bridge McFarland LLP on 0800 987 8800 or email wills@bmcf.co.uk.

Solicitor for Life Interest Trust Lincolnshire and East Yorkshire

There are various benefits to Life Interest Trusts. Incorporating a Life Interest Trust in your Will can help protect your assets. Setting up this type of Will can safeguard the share of the house belonging to the first to die (usually 50%) by putting it into Trust.

A Life Interest Trust comes into effect upon the death of the person making the Will. While the Trust gives the surviving spouse the right to live in the property rent-free, critically, it also prevents the 50% share of the property from being added to the survivor’s assets.

This means that the local authority cannot include it if they assess the value of assets to pay for care.

Life Interest Trust Solicitors

Lifetime Interest Trusts can be complicated, and it is vital to seek advice from a regulated Will-writing legal professional with specialist knowledge in this complex area of law.

Bridge McFarland LLP has provided Will-writing and Trusts services to clients in Lincolnshire, East Yorkshire and across the UK for many years. Our experienced solicitors specialise in elderly client law and will be able to advise you on the various measures you can take to protect your estate, finding the right solution for you.

We are proud to be an accredited member of the Law Society’s Wills and Inheritance Quality Scheme (WIQS), which shows we follow best practices to achieve high standards of technical expertise in client service and provide tailored Wills and Probate advice to our clients.

For legal advice from our professional and friendly Life Interest Trusts solicitors, call 0800 987 8800 or fill in our contact form.

Legal Advice Life Interest Trusts

Bridge McFarland LLP’s Wills and Trusts solicitors in Lincolnshire provide specialist legal advice on Life Interest Trusts and other asset management and estate administration tools.

Our Life Interest Trust legal service includes advice on:

• Establishing what type of Trust is best for you.
• Deciding on beneficiaries.
• Choosing Trustees.
• Drafting the Trust deed.
• Registering the Trust.
• Transferring assets to the Trust.
• Ongoing review and administration of the Trust.

You have the right to choose who benefits from your assets, so for expert help and guidance, get in touch with one of our specialist lawyers. We’ll be here to help make the process as simple as possible.

If you are looking to set up a Life Interest Trust or want to speak to one of our specialist lawyers to find out how to protect your estate from care home fees, get in touch with Bridge McFarland LLP today.

To speak to one of our Life Interest Trust solicitors in Lincoln, Scarborough, Louth, Hull, Market Rasen, Anlaby, Brigg, and Grimsby, call 0800 987 8800.

Lifetime Interest Trust Solicitors Near Me

Bridge McFarland LLP provides specialist legal advice tailored specifically to older clients.

Our Elderly Client legal services include:

• Care Home Fee Planning
• Vulnerable Client: Financial Abuse

In addition, we offer several private client services to help older clients with their estate planning. These include:

• Drafting and amending a Will
• Estate Planning
• Powers of Attorney
• Trusts
• Inheritance Tax
• Statutory Wills
• Deputyships and Court of Protection
• Probate and Letters of Administration

Other Legal Services

Bridge McFarland LLP offers uncomplicated guidance and advice when you need it most. Whatever your legal matter, relating to your private wealth or otherwise, speak to our team of friendly solicitors.

To speak to one of our solicitors in Lincoln, Louth, Hull, Scarborough, Market Rasen, or Grimsby today, please call 0800 987 8800 or make an online enquiry.

Frequently Asked Questions