The Family Bank Trust is NOT just for the wealthy but most Homeowners.
The interesting thing is that you don’t need investments or massive portfolios to set up your Family Bank Trust. The only initial cost need be our relatively modest fee for creating your personal Family Trust (do read on for more details). Most people just transfer their home into the trust, and carry on living in it (or moving) pretty much exactly as before. This does mean the family trust won’t immediately be able to benefit other family members unless you decide to downsize to release some cash. Chances are that your grandchildren or even great-grandchildren will be the ones who really benefit. But there is nothing to stop you looking after your children if they need help.
The Family Bank Trust can help you AND Future Generations.
Generally speaking, people reserve the right to benefit from The Family Bank to themselves during their lifetimes: for example, if you went into care, then the Family Bank would be able to top up your Care Home Fees. Only when you died would the funds be available to future generations (unless you decide otherwise of course!)
Open multiple branches of The Family Bank.
Not only can generation after generation benefit from The Family Bank you set up, they can add their own “branch” of The Family Bank trust so that in a relatively few years there would be a substantial group of Family Banks powerful enough to help any family member who got into trouble, or perhaps to guarantee an education free of debt for youngsters. Maybe to provide the capital for family members to start businesses, of which The Family Bank could (if they wished) be a shareholder or just a friendly lender of capital on whatever terms the current “Bank Manger” (you and your family) decide. Of course, you will have appointed the “Bank Manager” – he or she will be a family member, so sympathetic (but not “soft” treatment is assured!
Homeowner? You should (probably) set up a Family Bank Trust.
If you own your own home, you should set up a Family Bank. If you have significant savings or investments but you don’t own your own home but you have assets of over £50,000, you should at least consider setting up a Family Bank. Some people even set up a Family Bank with a £1 stamp and the benefits from a life insurance policy! It will cost you nothing to find out more about The Family Bank. Why not contact us today for the benefit of your children, grandchildren or great-grandchildren. Or if you don’t like them, or they don’t need help, perhaps for a Charitable Trust.
There is no doubt that setting up the Family Bank Trust is the best financial gift most parents can make – without actually giving anything away!
Better still, the chances are the net cost to your family will be NIL as there are substantial savings possible on probate when you die, though you do have to pay initially!
But surely, the Family Bank Trust has disadvantages?
Our unique Trust arrangement is not suitable for everyone. We spend an enormous amount of time on ensuring that those families who really are not going to benefit from the Trust are weeded out (in the nicest possible way!) before they spend any money at all. Even when we are 99.9% sure it is the right thing to do, and so are you, we have a further filtering process. We charge a small fee to go through a Fact Finding process to ensure we have all the information needed, and only then do we make a formal recommendation that you should go ahead. It is then entirely up to you whether you do so. We think that is the ethical way to proceed, and we hope you agree.
Why not call us on 01323 741203 or use our contact form. You have nothing to lose, and if we