Protect your children’s inheritance with Bloodline Wills
“It may surprise you that even if you have named your children in your Will, other people may be next in line to beneﬁt from their inheritance”
Bloodline Wills ensure that your children are protected from future loss of inheritance.If you have previously made standard Mirror Wills or have been meaning to make or update your Will then request our free Wills information pack today. We’ll show you how to create an inheritance ‘safety net’ for your children.
Most people think their existing Will provides protection for their children’s inheritance but in reality this is rare. It’s an important part of Will planning that is too often overlooked so we advise clients to think about it.
You would assume that having left everything to your children your estate would then pass down to your grandchildren. But if you read your Will closely, you’ll see that your grandchildren will only inherit if their mother or father dies before them. Your grandchildren may, in fact, get nothing.
You can make sure that doesn’t happen and your children (then their children) keep their inheritance for their use only by placing your funds into Trust.
Contrary to conventional wisdom, Trust money can be used by the Trust beneﬁciary. With a Bloodline Will your children will have complete access to the money held within it (they can spend it all in one day if they want to!). It is what we call ‘hostile third parties’ who won’t be able to gain access to the Trust. We advise our clients to set up Trusts for their families as an essential safety net.
It may surprise you that even if you have named your children in your Will, other people may be next in line to beneﬁt from their inheritance.
Without a Trust, you could be leaving money to one or more of the following:
- An ex son-in-law or daughter-in-law
- Future new stepparents to your grandchildren
- Children’s creditors/court order
- Someone else’s grandchildren
- Inland Revenue and/or Local Authority
Modern family life has many twists and turns and nobody knows what the future holds. By protecting your children and grandchildren’s inheritance with a trust you can guarantee that it will be safe and that only they will be able to use it. Instead of leaving your children and grandchildren with uncertainty about their ﬁnancial future, you can make sure that they are taken care of after you have gone.