Professional Trust Services in Stockport

What is a Trust?

Many people assume that Trusts are only for the extremely wealthy, but this is a misconception. In reality, a Trust can benefit anyone, regardless of their financial position. At Wollaston Associates in Stockport, we help individuals and families use Trusts as an effective way to protect assets and provide for loved ones in a structured, controlled way.

A Trust allows you to set aside assets or funds for family members, friends, or charities, while specifying exactly how, when, and why they should be distributed. The person creating the Trust (the grantor) appoints one or more trustees, who are responsible for managing those assets and ensuring that your wishes are carried out exactly as intended.

Trusts are highly flexible and can be tailored to your personal circumstances and long-term goals.

Common Types of Trusts

Different types of Trusts serve different purposes depending on what you wish to achieve. At Wollaston Associates, our qualified estate planners in Stockport can advise on:

Asset Protection Trusts – safeguard your home and savings against care costs or financial risks
Family Trusts – provide long-term security for your loved ones
Property Protection Trusts – ensure your property is passed on according to your wishes

Each Trust type has distinct benefits, and professional advice ensures that the right one is selected for your situation.

Trusts vs Wills: Which is Better?

Trusts and Wills often overlap, but they serve different roles in estate planning. Both are designed to protect your assets and provide for loved ones, yet the way they work differs.

A Trust can take effect as soon as it is signed, providing flexibility and immediate control.
A Will only becomes active after someone passes away, allowing arrangements for children, pets, and final wishes to be specified.

Trusts tend to be more detailed, offering greater control and privacy. Wills, on the other hand, are essential for covering personal and legal matters such as guardianship or funeral wishes.

Advantages of a Trust:

Keeps your affairs private
Helps your heirs avoid probate
Provides greater control and flexibility over your assets

Advantages of a Will:

Ensures children and pets are cared for
Prevents intestacy laws from determining inheritance
Can reduce inheritance tax implications with proper planning

For most people, a Trust and a Will work best together, forming a complete estate plan that offers both security and peace of mind.

Frequently Asked Questions

How can a Trust help me protect my home or savings?
A Trust can ringfence assets, such as property or savings, ensuring they are preserved for your chosen beneficiaries. This can be especially useful if you’re concerned about care fees or financial liabilities later in life.

Can I change or cancel a Trust?
Yes, certain types of Trusts, known as revocable trusts, allow you to make changes during your lifetime. Others, such as irreversible trusts, are fixed once set up, offering stronger protection against claims or tax implications.

Do I still need a Will if I have a Trust?
Yes. Even with a Trust in place, a Will ensures all other aspects of your estate are handled properly and that no assets are left unaccounted for.

Why Choose Wollaston Associates?

Wollaston Associates is a trusted estate planning firm based in Stockport, established in 2020.
We are members of the Institute of Professional Will Writers, affiliated with the Society of Will Writers, and certified by both the Personal Finance Society and Chartered Insurance Institute. Our focus is on providing clear, professional advice that helps families protect their assets and plan confidently for the future.

Rated 5 stars on Google by clients who value our friendly, knowledgeable approach.

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Talk to an Expert About Trust Services in Stockport

If you’re considering setting up a Trust in Stockport or anywhere in the North West, our expert team is here to help. We’ll explain your options clearly, ensure your Trust is legally sound, and tailor it to your needs.

Call 07757 546 893 or visit wollastonassociates.expert to book your free consultation today.