As families become more diverse and property ownership more complex, trusts are increasingly being considered as part of long-term estate planning. CJH Consultancy Services provides English-speaking consultancy support across Lanzarote, the wider Canary Islands and mainland Spain, with Colin helping clients explore the options available to them.
Estate planning is no longer simply about deciding who receives a person’s possessions after death. For families with property, children from previous relationships or assets spread between countries, the question can also be how those assets are protected and managed along the way.
That is one reason trusts are becoming a more common part of conversations about inheritance.
CJH Consultancy Services provides English-speaking consultancy support for residents in Lanzarote, the wider Canary Islands and mainland Spain. Colin works with clients to understand their individual circumstances and can explain the different trust structures that may be relevant, with appropriate legal work referred to SRA-regulated professionals within the organisation where required.
One option discussed by CJH is a Flexible Life Interest Trust within a UK Will. According to the consultancy, this can provide a structure intended to protect assets for future beneficiaries while allowing the surviving spouse access to the estate.
Such planning can be particularly relevant to couples who have children from previous relationships. A straightforward Will leaving everything to a surviving partner may not always reflect the family’s longer-term intentions. Concerns can include a future remarriage, inheritance tax or the way assets may ultimately pass to children.
CJH also works with Property Trusts and Asset Protection Trusts, which can relate to a main residence as well as additional properties. Where registration is required, the relevant Land Registry documentation needs to be completed and submitted, while conveyancing may also be necessary where ownership is being transferred.
Trusts are not a solution that can simply be applied in the same way to every family. CJH stresses the importance of establishing a trust for the right reasons and considering the individual’s circumstances before deciding whether one is appropriate.
The consultancy’s services can also be relevant to people with assets in both Spain and the UK. Colin can discuss clients’ circumstances and, through CJH’s relationship with Temis & Co, help facilitate advice relating to Spanish Wills and Powers of Attorney.
For families living in Lanzarote, therefore, estate planning can involve more than writing a document and putting it away safely. It can mean considering property ownership, family circumstances and assets held in different countries — and ensuring that the arrangements made today still reflect what the family wants to achieve in the future.
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