Trusts 101: Protect Your Loved One's Inheritance
In this fourth episode of the "Everything Estate Planning" series by ELM Legal Services, we explore Trusts in detail. Learn what Trusts are, the differences between testamentary and lifetime Trusts, and how they can be structured for purposes like asset protection, inheritance planning, and supporting loved ones. We’ll cover common types of Trusts—such as Property, Discretionary, and Right to Occupy Trusts, and discuss their benefits and limitations. Get practical insights on setting up a Trust and navigating challenges like tax implications and administration costs. Whether you're planning to preserve wealth or protect beneficiaries, this video offers expert guidance for informed estate planning decisions. Please subscribe and turn on notifications to stay up to date with the latest estate planning insights from ELM Legal Services. ----------------------------------------------------------------------------------- CHAPTERS 🔍 (0:00) Introduction (1:14) What is a Trust? (2:36) Testamentary Trusts vs Lifetime Trusts (4:45) Types of Trusts (5:16) Property Trusts (8:14) Right to Occupy Trusts (9:37) Discretionary Trusts (11:03) Disabled or Vulnerable Person Trusts (12:19) Flexible Lifetime Interest Trusts (13:37) Bare Trusts (14:40) Secret Trusts (16:03) Trust Limitations (19:57) Costs & Trustees (21:26) Setting up a Trust ----------------------------------------------------------------------------------- MORE FROM THE "EVERYTHING ESTATE PLANNING" SERIES ☝️🤓 Estate Planning: • Estate Planning Made Easy with ELM Legal S... Last Will & Testament: • Last Will & Testaments: Why Are They So Im... Lasting Powers of Attorney: • Lasting Powers of Attorney: Everything You... ----------------------------------------------------------------------------------- HAVE QUESTIONS ❔ Please leave a comment or email us at [email protected] ----------------------------------------------------------------------------------- LINKS 🔗 ELM Legal Services Website: https://www.elm-online.co.uk ⭐ Free Executor's Essentials Webinar: https://elmonline.info/3X8moKZ ----------------------------------------------------------------------------------- FOLLOW US 👉 Facebook: / elmlegalservices Instagram: / elmlegal TikTok: / elm_legal_wills_probate #estateplanning #estateplanningbasics #assetprotection #inheritance #willsandprobate #lastwillandtestament #lpa #trusts101
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