I'M NOT YOUR LAWYER AND THIS DOES NOT CONSTITUTE LEGAL ADVICE; SEEK YOUR OWN COUNSEL (PARTICULARLY ESTATE PLANNING COUNSEL) BLAH BLAH BLAH


Wills typically don't contain that level of detail. Trusts do, but wills don't. A separate list of assets would make things easier for those you leave behind, but ultimately your heirs will end up in court if all you have is a will. I don't know where you are, but here in the US it's called "probate." Depending upon your estate's worth, and how your locale's probate laws work, forming a trust now could cost less than your heirs will spend on a probate attorney's fees in the future. I always suggest at least strongly considering a trust for estate planning purposes.

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War is god

1) UK

2) it's called probate ;)

3) you're not my lawyer

4) I am going to get my brother on it. He's a tax partner for private clients in a global firm

I think we have had a discussion before about this (my brother and i) and the annual costs of maintaining a trust were not insignificant but j am going to re-examjne

In the interim I am listing assets for ease.

My Wife and I are finalizing our Trusts (US) and once they are created there are no annual costs for maintenance - unless we make significant changes . So am a tad confused why you believe you will have annual maintenance fees - can you elaborate please? Tks

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Graham Wilson
USAT Level III Elite Coach
http://www.thewilsongroup.biz

US trusts and UK offshore trusts are completely different. Depends where you are resident and where you are domiciled. Depends on where the assets are etc

There are costs associated with UK trusts.

As an example. My wife inherits my estate its tax free but to ensure my kids get it tax free has significant costs. More so if the trust is offshore. Minimum is about 3k / yr for off shore for life. There are taxes for moving assets in to trust above a certain point and you have to live 7 years for it to be outside your estate for planning purposes

All that said. I got my answer on listing assets. The rest is much more complicated.