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Protecting your Assets Ethically and with Integrity

Cedar Wills & Trust’s dedicated team take the time to understand your needs to establish future proof trusts. A Trust can be a tax-efficient way of benefiting someone in the future and can be arranged to deal with a vast range of circumstances.



We are passionate about protecting what’s important to you… from gifting money to a grandchild, handing down a valuable possession held for safekeeping or leaving assets to a disabled relative to help pay for their care.



Many people will draft a Will to ensure that all their assets are passed onto their children and chosen beneficiaries after their death. However a Will can only distribute the assets you own at the time of your death, so if your assets have been depleted over the years, there will be little left for your beneficiaries.

Family Asset Trusts, are designed to protect assets during your lifetime and will give you peace of mind that they will be passed to your beneficiaries after your death. Think of a Family Asset Trust as a ‘safe’, it ring-fences your family home, other property, bank accounts, stocks and shares, jewellery, fine art, business and agricultural assets, bonds and investments, cars and any other assets you decide to place in it. The primary advantage of an asset protection trust is that it can help ensure that more of the wealth you have amassed throughout your life is left to your beneficiaries and not wasted on unnecessary costs.

The person setting up the Asset Trust is known as the settlor, and it is run and controlled by  trustees. Dependant on trustee approval, you are free to move home, release equity from the Trust at any time or change your mind at any time in the future.


Children’s Future Divorce

Assets placed in the family trust are protected from loss if the worst comes to the worst and your children divorce in the future. Assets held within the trust are sheltered from any divorce proceedings.

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No Probate Fees or Delays

Probate is the legal application for the right to deal with a deceased person’s estate. This is potentially a lengthy and daunting process to undertake and your assets may be frozen until this has been completed. A trust is not subject to probate therefore it offers significant legal cost savings and the trustees will have immediate access to your estate without having to undergo probate formalities.

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Loss of Mental Capacity

A Lasting Power of Attorney will allow you to appoint a person/s of your choice to allow for decisions involving your finance, health and welfare issues. A family trust will work in the same way, and will enable you to retain full control of assets with the help of other named trustees.

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Claims on your Estate

All assets within the trust are safe from any claims. This means that ex-spouses, distant relatives etc would not be able to make a claim on your estate upon your death. Cedar Legacies team take the time to understand your unique circumstances to provide peace of mind now and in the future. Cedar Legacies are dedicated to protecting your estate and what is important to you… Don’t leave your estate in a state.

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Protection from means testing

We are often asked by our clients whether taking out an asset protection trust can protect against care home fees. By far the biggest fear is that their home will be sold and they are left with very little to pass on to loved ones. If you need residential care in later life you can expect to pay for all the costs. You may therefore have to sell assets, such as your home, to pay for your care. If you have already placed your house into a trust, it is likely that you can mitigate fees towards your future care costs. We would need to conduct a full assessment of your circumstances to ensure that we provide you with accurate advice based on your needs.

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Avoid Sideways Disinheritance

Most married couples leave all their assets to the surviving spouse in the event of their death and then the children if they are the only parent alive. If then the surviving spouse remarries have you wondered what happens to the joint assets? Under standard inheritance law, the balance of your estate would pass over to the remaining spouse and the children would not receive their rightful inheritance. The assets could then pass on through to the new spouse’s family. By putting all your assets in a trust and designating the intended recipient/s, it does not matter which spouse dies first or what situation the surviving partner is in.

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How can this Trust help You?

The Flexible Life Interest Trust (FLIT) has been described as the ‘ideal modern Will’. In today’s modern life of more complex estates and greater wealth, it is essential for the testator’s to have greater flexibility as to how their estate will devolve when they die. A well planned and drafted Will should be able to cope with changes in the future to the family structure and this includes the addition of new family members and changes to the tax regime introduced from time to time.

The main way to achieve maximum flexibility is through the use of Will trusts, whether they are discretionary; giving power to the trustees to make decisions of a named group or ‘class’ of beneficiary without having to ensure equality amongst them or interest in possession trusts giving the beneficiary a life interest in the trust assets rather than an outright gift.

Why consider the use of a FLIT?

The FLIT allows for provision for the spouse or civil partner, whilst incorporating flexibility into the Will whereby other family members and beneficiaries may benefit.

  • The main advantages of this type of Will can be summarised as follows:
    The FLIT Will trust created in favour of the surviving spouse or civil partner will still benefit from the transferrable IHT nil rate band introduced from October 9 2007.
  • The FLIT is flexible as it allows the trustees to grant capital as well as income to the surviving spouse or civil partner.
  • The use of a FLIT should protect the testator’s estate (capital assets) from any claims made against it by the Local Authority if the surviving spouse or civil partner goes into care.
  • The FLIT will also create a situation where the testator’s capital can be protected so that it eventually falls into the names of the testator’s children or other named beneficiaries rather than into the pockets of a new spouse or civil partner.
  • Once the FLIT is terminated, the benefits of a discretionary trust arise which also gives a great deal of flexibility to the surviving children or other named beneficiaries who can all potentially benefit from the discretionary trust and are also likely to maintain control of the trust as named beneficiaries.


If any of the children who are potential beneficiaries under the discretionary trust are the subject of matrimonial or insolvency proceedings, their interest as potential beneficiaries of the discretionary trust ensures that the funds are protected from ex-spouses and creditors.

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In some circumstances, the children may already have assets of their own which already exceed the NRB available to them. Under these circumstances the trustees would have the right to make loans or to make occasional benefits from thediscretionary trust would be a particularly tax efficient way of utilising the trust.

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There may of course be occasions when the beneficiaries simply wish to receive the capital from the trust and subject to their agreement the trustees have the power to simply appoint capital to the relevant beneficiaries and close the trust.

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For the FLIT to be effective all jointly owned assets will need to be held as tenants in common; i.e. effectively equalising the estate as far as possible. But it can also be equally effective where one party owns significantly greater wealth than the other. Unlike a normal life interest trust where the trustees are limited to the advancement of income only, the FLIT can ensure that the survivor’s needs are provided for by the advancement of capital as well as income.

How can this Trust help You?

Do you have a business? You may be entitled to reliefs and exemptions to minimise your Inheritance Tax! The IHT legislation is still very ‘business-friendly’ and proper attention and planning can ensure significant savings are achieved. The value of your business assets in conjunction with all other assets may mean that you will be IHT liable (this can be prevented with Business Property Relief!). The requirements in all cases is that the business assets MUST be owned for 2 years prior to the transfer (i.e. on your death).

You may qualify for 100% relief on the value of:

  • An unincorporated trading business;
  • An interest in a partnership;
  • Unquoted shares in a trading company (including AIM shares);
  • Securities in an unquoted company controlled by the owner.
    You may qualify for a 50% relief on the value of:
  • Shares or securities in a quoted company controlled by the owner; or
  • Land, buildings, plant or machinery which is used by a company controlled by the owner or by partnership in which the owner is a partner.
  • If your business assets qualify you must carefully consider who is going to inherit. You may wish to leave your business interest to your children or spouse but:
  • You are concerned about their ability to deal with the asset? or
  • Wish to undertake some IHT planning for their estates?

The solution would be to use this Trust within your Will; through such planning the relief can be maximised.

Leave any qualifying interest in a business straight to your spouse can lead to 40% IHT on their death if they decide to sell it as the cash proceeds will form part of their estate. Wasting the relief! Abetter route would be to leave your assets which qualify for BPR to a discretionary Will trust: if the interest is then subsequently sold, the cash proceeds of sale would be kept outside of the estate of the surviving spouse as they belong to the trust and will not form part of their estate and won’t be subject to IHT on the spouses’ death. Instead your spouse and children or family members are beneficiaries of the trust and can have access to the cash proceeds. The tax saving would be 40%.


Appointed Trustees can manage the business interest where intended beneficiaries are not ready to take over the management of the business.

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Allows you to pass business interests onto your children, whilst at the same time making financial provision for your spouse.

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Your spouse shall be able to receive an income from the business interest during her life.

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As the business assets are placed into trust, should the assets be subsequently sold, the cash proceeds will not form part of anyone’s estate at all, and shall instead be subject to the low IHT rates applicable to trusts.

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A way of placing valuable assets outside your own taxable estate and down to the next generation with little or no tax.

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Where possible, your Will should be structured in such a way so that assets qualifying for BPR are left to non-exempt beneficiaries (i.e. taxable beneficiaries). Otherwise, the relief could be wasted.

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How can this Trust help You?

Do you have a family member who is mentally/physically handicapped? Your care for him/her is hugely important and this needs to be considered when you are no longer around. This trust will enable you to leave your assets in a controlled settlement, with people who will have the ability to make all financial decisions for them. There are huge disadvantages in gifting assets to a disabled child/person and this Trust helps avoid many of them.

Leaving a simple Will in the hope that ‘everything will be alright’ can have a disastrous effect; this gives us a list of the disadvantages of not using this Trust:

  • Benefits from the Benefits Agency being stopped.
  • Entitlement to Local Authority funding being stopped.
  • A Receiver from the Court of Protection having to be appointed to manage the affairs of the disabled person. This can be very expensive and may not act as you or the disabled person may want them to.
  • The estate being subject to a much harsher tax treatment.

Explore the benefits of having a disables trust in place below. Your dedicated Cedar Wills & Trusts advisor is available to help you navigate each stage of the process, providing the latest advice, future proofing your protection. Schedule your confidential consultation today.

Including this trust within your Will can ensure that you make provisions for added luxuries and extras that you would want your disabled child (family member) to have e.g. holidays, particular equipment to help enhance their way of life.

This Trust enables you to secure the future of your disabled family member who is unable to look after their own affairs and to protect them.


The disabled beneficiary is not legally entitled to the assets that have been placed into the trust; this means that the benefits they are receiving are not adjusted or stopped as this money is not taken into account when looking at what that disabled person owns

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Trustees have full discretion in applying the income/capital for the benefit of the disabled person; this means the Court of Protection won’t need to appoint a Receiver to manage their affairs as the Trustees will be doing this through the Trust

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There is no tax charge on payments for the benefit of the disabled person! This includes anniversary and exit charges.
Your Cedar Legacies advisor is available step by step throughout the process, providing dedicated advice.

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You can leave a Letter of Wishes* to the Trustees to explain why you have set up the Trust and what you would like to achieve including explanations as to what the money should be spent on.

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Trustees have discretion; which means that they can adjust to deal with the affairs of the disabled person and his/her changing circumstances e.g. money required for the payment of medical bills. The Trustees also have the ability to adapt to a change in legislation that we cannot predict.

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The Trust enables you to give the Trustees the ability to give your family member the best possible care and to make arrangements for their future so their lives can be enhanced and the quality can be maintained

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How can this Trust help You?

As a couple (married/civil partner or not) you can arrange your Wills to protect your assets. A large proportion of a couple’s estates their property, you can protect your 50% share by placing it into a Trust on your death.
Rather than leaving everything to each other, your share will be placed into Trust with your spouse/partner named as the ‘Life Tenant’ which allows them to carry on living in your share of the family home just as if you had left your share to them.

The Trust can give flexibility:

  • To sell the house and buy another (downsize to a smaller property);
  • Lend money to the Life Tenant;
  • To view the needs of the spouse as paramount and give the power to advance capital as well as income.
  • To terminate the trust if the Life Tenant remarries or starts living with someone else.
  • To name the beneficiaries, so that only those named will benefit from your share of your home e.g. all your children (including from previous marriages/relationships).
  • it is likely that you can mitigate fees towards your future care costs

Right to Occupy

How can this trust help me?

It is not uncommon to have a member of your family living at your home. This can include an elderly relative or your eldest child, either way, if you die they may need your protection to allow them to remain in the property.
Setting up this trust can give them the right to keep residing there. This can be for a specified number of years, for life or until the individual no longer requires to remain e.g. ceases to use the property as their main residence. This protection can only be given by this Trust.

A right to occupy (reside) can also help your children’s guardians, by giving them the right to live in your home while bringing up your children BUT knowing that when say, your youngest child attains the age of 18, 21 or 25 the trust will end. When this occurs the guardians revert back to their own property allowing the family home to be passed onto your children.
Once this Trust has come to an end the named beneficiaries will then receive the house just as if it was gifted straight to them. This is usually children, family members etc. however if no-one is mentioned within the Trust the house will then return to the residuary estate leaving it as per your intentions within your Will.


Contact Cedar Wills & Trusts today to schedule your complimentary policy review or
confidential consultation.

Our advice is tailored to your specific needs. We aim to provide solutions
which are both workable and cost-effective.

Cedar Legacies’ dedicated team take the time to understand your needs to establish future proof trusts.