Club hears advantages of making a Will with a Trust
An insight into the potential problems around life was given at a Whitley Bay club.
The advantages of making a Will and appointing trusted family or a friend to act as an Enduring Power of Attorney were outlined at a Willow Club meeting.
Chris Dingley told how the use of a trust has many advantages over a Will.
It ensures privacy and control to support the interests of the deceased well into the future.
A trust has the power to assist beneficiaries during minority years.
Payment for funerals in advance is a recommended procedure.
Problems can arise with inheritance tax and joint ownership of assets, as well as payments to carers and care homes.
If the deceased leaves a spouse who decides to remarry, then benefits from the deceased’s Will may be lost.
The Willow Club meets each Thursday, between 10.30am and noon, in the Wesley Hall, St John’s Church, Ilfracombe Gardens, Whitley Bay, to listen to an invited speaker.
The club is open to all retired men.