WT023: Using Trusts To Protect Your Assets
In today's episode we talk about making sure your assets are protected if you aren't able to manage them anymore. Make sure to tune in to find out about different types of Trusts, Wills, and Lasting Power of Attorney, to protect your assets.
WealthTalk - money, wealth and personal finance. · Christian Rodwell, Kevin Whelan
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Show Notes
It's important to know what would happen and who could make decisions to keep your assets protected, well maintained, well organised and structured and continue to do that if for any reason you weren't able to. WealthBuilding is a management process. There needs to be some management, not least because things change, tax laws change our health changes, our relationships often change. We focus on the different types of Trust, Wills and Lasting Power of Attorney in this week’s episode of WealthTalk.
Resources Mentioned In This Episode:
Listen to Episode 008 - Protecting Your Assets [The ROOF]
Listen to Episode 018 - SSAS Pensions [The Director’s Pension]
Wording to check how your home is owned:
The Title Register Document will show the names of the people that own the property and, if you are tenants in common will also have wording similar to: "No disposition by a sole proprietor of the registered estate (except a trust corporation) under which capital money arises is to be registered unless authorised by an order of the court".
If there is no such wording in the Title Register Document then you are almost certainly joint tenants.
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