01
Initial Consultation
We discuss your property, health, family circumstances and estate-planning objectives.
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Living Trusts in Dorset & Surrounding Areas
Protect Your Home and Your Family’s Inheritance
A Living Trust can be an effective way of protecting your home, preserving your family’s inheritance and providing greater control over how your property is managed and eventually passed to your beneficiaries.
Oakwood Wills provides professional Living Trust advice throughout Dorset and the surrounding areas. We explain the advantages, responsibilities and potential limitations clearly before recommending whether a trust is suitable for your circumstances.
Free home visits
In the comfort of your own home
Fixed fees
Agreed before you proceed
Plain-English advice
Clear guidance, no jargon
Personal local service
One person from start to finish
UNDERSTANDING LIVING TRUSTS
What Is a Living Trust?
A Living Trust is created during your lifetime and can be used to hold your home or other specified assets for the benefit of you and your chosen beneficiaries.
You can continue living in the property and retain the ability to move home, downsize or replace the property held within the trust.
Trustees are appointed to manage the trust in accordance with its terms. These will usually include the property owners and one or more trusted family members or professional trustees.
A Living Trust allows you to…
- Hold your home or other specified assets within the trust
- Continue living in your property
- Move home, downsize or replace the property
- Appoint trustees to manage the trust
- Include trusted family members or professional trustees
- Provide for your chosen beneficiaries
Protecting Your Family’s Inheritance
The trust can help ensure that the value of your home ultimately passes to your chosen beneficiaries.
Protection Following Remarriage
It can reduce the risk of an intended inheritance being redirected following the death and remarriage of a surviving spouse or partner.
Divorce or Financial Difficulties
Assets retained within the trust have greater protection if a beneficiary later experiences divorce, bankruptcy or creditor problems.
Avoiding Probate for the Trust Property
Provided the property has been transferred into the trust, it will not normally form part of the assets administered under the settlor’s personal estate. The trustees will continue to administer the trust property under the trust deed.
Maintaining Control
The trust deed sets out who may benefit, how the property is managed and what should happen to it in the future.
Flexibility to Move or Downsize
A properly drafted trust allows the trustees to sell the property and purchase a replacement property or retain the resulting capital under the terms of the trust.
LIVING TRUST BENEFITS
How Could a Living Trust Help You?
LIVING TRUSTS AND CARE FEES
Maintaining Control & Care Fees
The trust deed sets out who may benefit, how the property is managed and what should happen to it in the future. Placing a property into trust for genuine estate-planning reasons helps protect the home from care fees and preserve its value for the family.
WHY CHOOSE OAKWOOD WILLS
Why Choose Oakwood Wills?
Oakwood Wills provides friendly, straightforward estate-planning advice without unnecessary legal jargon.
Personal service from an experienced professional will writer
Free initial home visit and review
Clear, fixed fees agreed in advance
£2 million professional indemnity insurance
Advice tailored to your property and family circumstances
Assistance with Land Registry and Trust Registration Service requirements
Serving clients throughout Dorset and the surrounding areas
A SIMPLE FOUR-STEP PROCESS
How the Trust Works
02
Trust Preparation
If the trust is suitable, the documents are professionally prepared to reflect your wishes.
03
Appointment of Trustees
Usually between two and four trustees are appointed to manage the trust.
04
Property and Trust Registration
The necessary Land Registry work is completed, and assistance is provided with the Trust Registration Service where registration is required.
Our core services
Wills, Lasting Powers of Attorney and Trusts with Clear, Expert Guidance
Wills
Clearly record your wishes, appoint people you trust as Executors and decide who you would like to benefit from your estate.
Living Trusts
A Living Trust is established during your lifetime and may provide greater control over how certain assets are held and managed. Whether it is appropriate will depend upon your individual circumstances.
Lasting Powers of Attorney
Appoint people you trust to make important financial, property, health or welfare decisions on your behalf if you are unable to make them yourself.
- Marriage or divorce
- A new relationship
- The birth of children or grandchildren
- Buying, selling or significantly changing your property
- A substantial change in your financial circumstances
- The death of an Executor or beneficiary
- Changes within your family
- Concerns about a beneficiary’s divorce, bankruptcy or financial circumstances
- A change in who you would like to inherit
Reviewing an Existing Will
Already Have a Will? It May Still Be Worth Reviewing
Having a Will is important—but having a Will that still reflects your current circumstances is equally important.
Life rarely stands still. Families change, relationships change, property values change, and what you wanted ten or fifteen years ago may be very different from what you want today.
Living Trust without the formal office appointment
One Person. Personal Service. Clear Advice.
“I’ll visit you in the comfort of your own home, take time to understand
your circumstances and explain everything clearly before your Will is prepared.”
Trusted by Families Across Dorset & Surrounding Areas
From your first inquiry to the completion of your documents, Oakwood Wills is here to support you every step of the way with professional, friendly advice you can trust.
Margaret H
Clear, concise, and compassionate. Oakwood Wills made everything simple.
James T
Excellent experience from start to finish. Highly recommend to anyone needing a will.
Sheila D
They explained everything in plain English and took away all the stress.
Alan R
Very knowledgeable and efficient. I wouldn’t go anywhere else.
Barbara S
The whole process was handled with care and respect. Thank you!
Peter L
Affordable, straightforward, and trustworthy. A first-class service.
Brenda W
I finally feel secure about the future. Oakwood Wills made that possible.
Frank E
Will writing FAQs
Questions About Making a Living Trust?
Clear answers to common questions. If you would prefer to talk things through, call us on 07832 331594.
What is the difference between a Will and a Living Trust?
A Will normally takes effect after death and its assets may need to pass through probate. A Living Trust is established during your lifetime and deals with assets transferred into it.
Can I continue living in my home?
Yes. The trust gives you the right to occupy and enjoy the property for the remainder of your life, subject to its terms.
Can I sell the property or move home?
Yes. The trust permits the trustees (property owners) to sell the property, purchase another home or retain the sale proceeds within the trust. The trust is portable
Do I lose control of my home?
No. The property is held in the trust, but the owners are usually trustees and keep control of the property via the trust.
Will a Living Trust protect my home from care fees?
Although no arrangement can guarantee protection from future care costs, a properly established Living Trust can provide meaningful protection when it is created for legitimate purposes and before any need for care is reasonably foreseeable.
Does the trust avoid inheritance tax?
A Living Trust is not automatically an inheritance-tax-saving arrangement. The tax treatment depends upon the trust provisions, the assets involved and the rights retained by the person establishing it. Independent tax advice may be required.
Does the trust last for 125 years?
The trust has a maximum duration of up to 125 years, but it does not necessarily have to remain in place for that entire period. It may be brought to an end earlier by the agreement of the trutees.
Does the trust need to be registered?
Many express trusts must be registered with HMRC’s Trust Registration Service. The property transfer may also need to be registered with HM Land Registry. Oakwood Wills can assist with these requirements.
How many trustees are required?
A minimum of two trustees and a recommended maximum of four trustees. The appropriate number will depend upon the client’s family and personal circumstances.
Find Out Whether a Living Trust Is Right for You
Arrange a free, no-obligation home visit
to discuss your property, family circumstances and estate-planning objectives.
Oakwood Wills
29 Mereside, Portland, Dorset DT5 1PY
[email protected]
A truly professional and friendly service. I feel peace of mind knowing my affairs are in order.