There’s an important area of asset preservation known as ‘bloodline planning’.
In a nutshell it involves making sure your assets reach your children, grandchildren and other relatives rather than ending up in the wrong hands.
Without the correct bloodline planning:
- Some or all of your children’s or grandchildren’s inheritance could be lost.
- Assets distributed to beneficiaries exposes those assets to risk.
- Your spouse/partner and children may not inherit your share of a business.
There are many reasons why people use bloodline planning and trusts to protect their assets for future generations.
For example, your children’s/grandchildren’s inheritance can be impacted by taxation, such as Inheritance Tax, and other more emotional issues such as care where estates can be drained to cover the cost.
Equally, family circumstances can also be a concern. It may be that there are some family members you wish to benefit and some that you do not.
What If There’s Someone You Don’t Want To Benefit?
A classic scenario would be someone who has married into the family, but who you wouldn’t want to benefit from your estate.
Divorce and/or remarriage can greatly influence who inherits and by how much. Image if a family member inherits money then divorces – that same inheritance is automatically at risk.
The inheritance is also at risk from bankruptcy and creditors liabilities.
The correct trusts can provide the protection and control of a multitude of assets and extend to the family home, investments and businesses.
We can ensure your children and grandchildren benefit completely from the inheritance you want them to receive.
Get in touch
Family Estate Planning can help with bloodline and inheritance planning in Wokingham, Berkshire, Reading, Surrey, Hampshire and across the South East.
For an informal, no obligation chat about your circumstances please email firstname.lastname@example.org or call 07984 013533.