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JMW has a dedicated team with the specialist knowledge required to make sure that bloodline trust agreements are watertight and comprehensive, ensuring family wealth and assets are vigorously protected for generations to come.
What is a Bloodline Trust?
Bloodline trusts, also known as discretionary trusts, family protection trusts and wealth protection trusts, help to ensure wealth and assets remain within the family unit. They are useful for ensuring capital is not at risk of being included in the divorce settlements of family members, or at risk of being absorbed by creditors should a family member be declared bankrupt.
Why Should I Set Up A Bloodline Trust?
If assets and wealth are protected in a bloodline trust, they remain within the family unit. Without a bloodline trust, assets are vulnerable to:
- Divorce in future generation of a family
- Inheritance Tax (IHT)
- Other taxes
Setting up a bloodline trust ensures that money can only be accessed and used by your children, your grandchildren or other generations directly related to you. Those who have married into a family have no access to funds. For example, if you die and your spouse remarries and has more children, without a bloodline trust in place those children may be entitled to a portion of your assets.
There are many benefits to setting up a bloodline trust, but to get the full benefit, it’s important to work with an experienced solicitor who has experience in this area of family law.
Why Choose JMW?
Our solicitors are best placed to create a bespoke plan capable of comprehensively protecting your wealth and assets. We understand that no two families circumstances are identical, which is why we take a caring and pragmatic approach to drafting agreements to ensure that you have peace of mind that your family will be taken care of.