The evolution of WAY Trustees Limited reflects our desire to refine our business and focus solely on intergenerational wealth planning in the form of the creation and management of family trusts.
Until now, we have relied on IFA’s to complete the advice and trust work involved in establishing personal trusts for their clients. However, this is no longer the case and we’re pleased to share our referred business model with you.
Our referred route is a response to the many advisors who would like to offer this highly valuable facility but are unable to do so for a variety of reasons. This could be anything from having compliance or insurance issues, having lack of confidence in trust matters or even simply down to lack of resource in the office. We have hundreds of happy trust clients who remain exclusive clients of their own individual IFA’s – IFA’s who manage their trust investment portfolios and enjoy secure ongoing fees while doing so.
There are so many benefits as to why you should be utilising the Acrobat Trust solution, not least providing guaranteed investment fees for several years ahead for an IFA, but also being able to offer neat yet comprehensive family asset protection – with IHT saving thrown in! Paired with receiving an introductory fee as well as providing a prestigious service clients will appreciate; it also secures those important clients for the future.
Why it’s Important to “Ringfence” Intergenerational Wealth
The use of the Acrobat Trust from WAY Trustees is the most robust yet flexible intergenerational wealth and family asset protection facility on the market, having been designed specifically with family wealth preservation in mind.
Many taxpayers over the last 20 – 25 years have settled some of their assets into a flexible discretionary trust for the sole purpose of mitigating IHT on death. However, a more sensible approach is to focus on helping individuals to achieve the majority of their, often opposing, life and financial goals of securing their future and that of their families in the face of the many unknown future challenges they might encounter – life’s twists and turns – whilst also mitigating taxes.
These challenges may be personal, relationship, commercial, educational, health-orientated or any one or more of all sorts of unexpected future events. If such strategies can be arranged in a tax efficient manner, that then represents a real ‘win-win’ situation for the client. Gifting personal financial assets into such a trust, creates a segregated legal entity for tax purposes representing a protected store of assets, with a potential lifespan of 125 years (regardless of the lifetimes of the settlor and/or any of the Individual trust beneficiaries).
There are many circumstances where the trustees can help protect, ringfence or utilise family assets. Here are just three typical, real life situations whereby, having passed assets into a separate legal entity, the Acrobat Trust from WAY Trustees can ensure you achieve excellent safeguarding of intergenerational wealth for your client, for up to 125 years.
Having access to funds to cover Family Emergencies. A son’s business needs financial assistance, a sister’s roof blows off, a favourite aunt has a medical problem requiring expensive and urgent treatment. A suitable trust that allows gifts or loans to a class of beneficiaries aside from named or added beneficiaries is crucial in circumstances such as these.
Covering Care Fees. The potential requirement to cater for and cover one’s own long-term care needs is a constant source of concern for us all as we get older. Do we retain cash in our estate to do this or is there a better solution? By moving money into a trust, it falls out of account for IHT purposes after 7 years but remains available for care home or other health/medical costs at the discretion of the trustee, who will refer to the Settlors “Letter of Wishes”.
Protecting Family Wealth. Every parent wants to help their son or daughter on their way in life, such as helping with a first house purchase. The often-unvoiced fear is that good relationships can turn sour and a subsequent divorce will see half of that gift disappear out of the family forever. Offering such support via a loan from the trust avoids this consequence.
Entrusting WAY Trustees with the responsibilities and legalities of an Acrobat Trust can be an emotional and practical comfort, not a hindrance, to creating financial security for the client and their family during their lifetime, on their death and long into the family’s future (up to 125 years).
If you would like to learn more about the Acrobat Trust, how we operate and the process in to introduce your clients to the professional benefits of Acrobat email firstname.lastname@example.org or visit www.acrobattrust.co.uk/brochure to download the brochure.