Why use Multiple Sibling Trusts within a Will?

Leaving assets to a single Trust is a better solution than leaving assets absolutely, but is it the best solution when there are multiple beneficiaries? Multiple Trusts provides both you and your beneficiaries with even more flexibility.

For example if all of your Trustees (who may also be beneficiaries) of a Trust cannot agree on a course of action, it may be that the funds cannot be utilised for the benefit of beneficiaries as a result, meaning the Trust can’t operate effectively.

Separate Trusts are also useful in solving those tricky ‘who gets what’ issues that can arise. Allowing different Trustees to act across a number of Trusts means that each Trust can be managed independently of others. Establishing separate Trusts for each beneficiary also means that individuals needs can be accounted for, as you are able to choose who, what and how you wish your beneficiaries to benefit.

Where the Trustees of a Trust are concerned with one family or member of the family as opposed to numerous individuals with different needs, the management of the Trust can also be simpler.  A group of simple Trusts is much simpler to manage than a single Trust with many purposes, mixed assets, multiple beneficiaries and more potential for conflict amongst them.

For help and advice on creating Multiple Sibling Trusts within a Will please contact Ferndown Business Network member David Booth at DB Consultancy on 01425 480954 or email david@dmsuk.info

Marketing is so much more than promotion

No matter the size of your business every penny you spend & every hour you commit to your marketing has to count towards you achieving your business goals.

Promotion is an important part in your marketing efforts but ‘effective marketing’, the entire marketing that satisfies the needs of your customers is so much more. You can have a great promotional campaign but if your product or service isn’t wanted or you are charging prices that are above what your target customers will pay then it will struggle to deliver.

To have ‘effective marketing’ you need to consider a wider range of factors than just promotion. Much of it isn’t difficult with the result being that it can transform the impact of your marketing. Here are just a few ideas:

• Start with product. Give customers what they need not what you think they need. Think wider than the actual product – consider the other features that surround your product – delivery methods and times, guarantees, installations, refunds, exchange policies – all of which can make your product or service more attractive.

• Speak to your customers. Ask them what they need and want from you. Find out what they think of your product or service and how it can be improved.

• Ask your customers for reviews. If they are liking what you do then encourage them to share with others what they think of your product and to post reviews on-line.

• Regularly monitor your sector and competitors. Consider how tastes are changing or new products are being launched and adapt where necessary.

• Make it easy for people to acquire your product. That maybe how they can find you or buy your product on-line. Make sure your website is mobile responsive and is search engine optimised.

• Develop your team. Ensure that everyone who works for you has great knowledge about your business and offer. Ensure they also have the right attitude & provide the level of service your customers would expect.

• Be responsive to your customers. Ensure you follow up on enquiries quickly – not many buy products or services from a company they have had to chase or have had to wait a long time to respond.

• Deal with customer complaints well. No doubts you have all had customers who haven’t been completely satisfied but how you deal and resolve their compliant will make all the difference to whether they buy from you again or recommend you to others.

• Measure, measure, measure. If you don’t measure your marketing you can’t understand, control or improve it. Use tools such as Google Analytics to see how well your website is working, monitor your email performance or conduct market research to understand what your target audience think about you and your product or service.

Measure4success blog

Measure4success is the blog for e-nexus Ltd.  We are a member of Ferndown Business Network and a Bournemouth based Marketing consultancy specialising in Strategic Marketing Planning and Performance Measurement.  Learn more about what we do and how we can support your business by emailing info@e-nexus.co.uk or by visiting our website at www-e-nexus.co.uk

How well are your assets protected?

Do you have a plan in place to ensure that your wealth passes to the right people at the appropriate time in a manner that provides protection and is efficient for tax purposes? 

Ferndown Business Network member DB Consultancy use Asset Protection Strategies for those who wish to protect themselves and their family’s future inheritance.  They use a tried and tested combination of Wills, Trusts and Powers of Attorney to cover the most common threats to wealth made up from homes, savings, investments, life assurances, pension plans & death-in-service benefits.

Wills ensure the most effective legal ownership of your home whilst setting up Trusts means that your assets are protected from the threat of:

  • The financial burden of long-term care
  • Future insolvency problems
  • Children getting divorced
  • Surviving spouse entering a new relationship
  • Inheritance and other taxes
  • Avoiding the delays associated with probate
  • Legislation changes

David Booth, Director of DB Consultancy said: “We work closely with our clients to create a plan that suits their specific requirements. We put them in control of their financial affairs and provide them with peace of mind. Our approach also ensures that the people you choose can manage your financial and welfare affairs should you become unable to do so due to mental or physical incapacity. This important aspect of planning gives the ones you trust control of important decisions, rather than a government agency.”

DB Consultancy provide a full range of services and bespoke advice in all areas of Estate Planning including Wills, protecting wealth using Trusts, Inheritance Tax Planning and Lasting Powers of Attorney.  Based in Ringwood, Hampshire we benefit from 30 years of experience in Wills and Estate Planning.  We also work in association with The Countrywide Tax & Trust Corporation Ltd.

For help and advice on how best to protect your assets please contact David Booth at DB Consultancy on 01425 480954 or email david@dmsuk.info

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