Estate Planning Dilemmas: Gift Trust Case Study

We’ve changed the names to protect the identies of our clients but we feel it important to relay true stories so people can understand how a little bit of knowledge can solve a seemingly tough choice.

The problem

Janet and Nigel were writing their Wills and were struggling with a problem. The marriage of their son Ian with his wife Susanne was looking shaky.

If they died and Ian inherited while going through a separation or divorce, he would potentially lose half of his inheritance in the divorce case with Suzanne - how could they avoid this without leaving Ian´s inheritance to someone else to look after, which in itself was fraught with potential issues.

The solution

We were able to help them with setting up a gift trust for Ian which, due to the way the assets are appointed, guaranteed that Ian would get 100% of the gift while he was alive and only his children could benefit from it on his death.

It sounds simple when it’s written down but without knowing that these options are available, Janet and Nigel could have been deliberating over this issue for ages or worse, never put anything in place.

If you have a dilemma and need help with your estate planning we offer a free consultation service. You can book an appointment with our Trusts expert on 0800 668 1164.