Protect assets after your death with a Trust in your Will
Put simply, a trust is an addition to an existing will that allows you to place your property and other assets in the control of a chosen trustee, which is likely to be a spouse, children or other close relatives. While trusts in a will can provide peace of mind for you and your family, and be an effective tool for long-term decision making, they can be complex. That’s why our professional legal advisors can offer you tailored advice on how to proceed, including deciding whether a trust is right for you and your circumstances. Located across the UK, we are here to help you move forward with your important decision.
Wills with trusts can protect property and make your will more flexible
How a trust in your will works?
When you make a basic will, you are effectively handing over a large amount of money when you die. This may not be the best approach as you’re relying on the good intentions of others.
For example, what if you leave all your money to your spouse but they go on to marry someone else? You might not know that marriage cancels their existing will and intestacy (when you don’t have a will) would favour their new spouse. This could leave your children disinherited.
Your circumstances could also change. You might fall out with one or more family members or be reconciled with others. Ten years from now, you might choose to make a different will favouring different people. But what if you die before you have the chance to make a new will?
Then there are disabled and other vulnerable beneficiaries to think of, who might not be able to look after money. Or how about young adults freshly graduated from college or university. Would you trust them not to squander a large inheritance?
All of these are good reasons to add some protection for your assets after your death.
Talk to us about wills with trusts today.
Get expert help with making a Will Trust
There are many types of Will Trusts and they can be confusing. Our advisors are located across the UK. Your local legal expert can provide:
How it works
Let us help you make a better Will
We know that Will Trusts can be complicated and confusing. Different types of Will Trust have very different advantages, disadvantages and tax consequences, so it’s important to choose the right one for your needs.
That’s where we can help. We are a network of trusted local experts across the UK, who can explain the options clearly. When you get in touch, we’ll put you in contact with an advisor in your local area.
Our local advisors will save you time by helping you choose the right will trust for your needs. With over 830 reviews on Trustist, you’ll be in good hands.
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Why it’s worth paying extra to get a Will Trust
Will Trusts protect assets and provide flexibility for family members and executors. Different types of Will Trust have different pros and cons, so it’s important to discuss your requirements with your local advisor so that you pick the right type of Will Trust.
A Property Protection Trust gives someone else the right to continue living in your house after your death. This is typically your spouse or partner. The Property Protection Trust can give them the right to live in the house for a set period. When the Trust ends, your beneficiaries – usually children – will inherit.
A Flexible Life Interest Trust is like a Property Protection Trust except that it includes money as well as property. You give someone the right to live in your house for a set period, as well as the right to income from any investments or savings.
You can also set up a Will Trust to protect money and other assets for vulnerable beneficiaries, including disabled people and others who receive certain state benefits. These Trusts may even be eligible for special tax treatment after your death.