An Asset Protection Trust Will (or APT) can be used by couples who want to ring-fence assets.
If an APT Will is in place, when one partner dies their assets will not pass automatically to the surviving person but instead are held by the Trust. This ensured the assets are protected should, for example, the surviving person need long-term care or re-marry.
The Benefits of an APT Will
- If the survivor chooses to re-marry or change their Will it protects the home and assets of the first to die.
- The surviving person can continue to live in the property or choose to move house.
- If the Trust’s assets are invested this can provide the surviving person with an income.
- The deceased’s assets can be protected from being used to pay the survivor’s long-term care costs.
- It preserves the maximum Inheritance Tax exemptions for married couples or civil partners.
For general informational purposes only, not intended or to be taken as legal advice. To make sure it is appropriate for you please seek advice and contact us.
