Estate planning professionals ILAWS discuss how you can protect your assets
As we approach the end of another year, it's a time to look backwards and take stock of the time that has passed.
But even if planning for the future may not seem as urgent as the minutiae of daily life, it's just as important. The best thing that you can do now is to decide now what you would like to happen to those assets - how they should be handled, and who should be asked to make those decisions. It means that they can look after your banking, your property, or anything that you would normally need to sign for or pass a security check.
Get this sorted first - there’s no time like the present! - and you can then move on to other things, like protecting your home. You can’t legally stop this from happening, but you can protect your most valuable financial assets by setting up a trust. When you set up a trust, you become a trustee, which means that you retain both legal ownership and control of anything you put into it - for example the family home.
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