Protective Trust
A protective trust can be used to protect the trust fund from a beneficiary’s creditors.
An example would be a mother who wishes to assist her son financially. The son has a small business which is not doing well. Instead of giving the son money outright, the mother puts it into a protective trust for the son. If the son’s business then fails, the protection provided by the trust takes effect and the trust fund is safe from the son’s creditors.
It is important to consider all legal, practical and tax implications before creating a trust. At Hart Brown we will guide you on the implications and help you set up a trust that best suits your objectives. We can also act as trustees of the trust.
To speak to someone who can advise on protective trusts or any other type of trust call, email or request a call back from one of our specialist lawyers