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Will trusts can be invaluable tools for preserving the value of your estate and ensuring that your loved ones are cared for after you are gone. However, they can be complex and overwhelming, especially given the importance of their implications and the many options available to you.
At Glanvilles, our trusts and Wills solicitors have your interests at heart. We will work with you and your financial advisors to determine the right choice of Will trust for your personal situation and ensure it is drafted in a way that protects your interests and prioritises your loved ones above all. We can take care of the complexities so you can focus on what’s important.
You can contact us about Will trusts by getting in touch with our solicitors in West Sussex and Hampshire at your local branch in Chichester, Fareham, Havant or Petworth.
Alternatively, you can fill in our online enquiry form and a team member will be in touch shortly.
For a broader overview of our probate and Wills services, please look at our Wills, trusts, probate and estate planning solicitors' services.
Our expert solicitors for Will trusts can cater our services to your particular needs. Our Will trusts services include the following:
A Will trust is a legal arrangement written into a Will that places assets into a trust upon the testator’s death. The assets are managed by appointed trustees for the benefit of specified beneficiaries.
Unlike a straightforward inheritance, a Will trust provides greater control over how and when assets are distributed. Trusts can be used to protect family wealth, provide for vulnerable beneficiaries, or reduce tax liabilities.
We understand the importance of carefully structuring your Will to provide for your loved ones while ensuring tax efficiency and asset protection.
Below, we outline the key features of different types of Will trust funds, to help you determine which may best suit your needs.
A Discretionary Trust allows appointed trustees to manage and distribute assets flexibly among a group of potential beneficiaries. The testator (the person making the Will) provides guidance through a letter of wishes, but the trustees retain full discretion over who benefits and when.
This type of trust is particularly useful for:
While discretionary trusts offer flexibility, they are subject to tax charges under the relevant property regime, including 10-year anniversary and exit charges.
A Life Interest Trust provides a named beneficiary, who is usually a spouse or partner, with the right to receive income generated by trust assets during their lifetime.
However, they cannot access or sell the capital. On their death, the trust assets pass to remaindermen, typically children or other chosen beneficiaries.
Advantages include:
For tax purposes, assets in a Life Interest Trust are treated as part of the life tenant’s estate for IHT purposes unless an immediate post-death interest (IPDI) applies.
A Flexible life interest trust operates similarly to a standard life interest trust but allows trustees the flexibility to distribute capital as well as income.
This enables adjustments to be made based on beneficiaries' changing circumstances.
Key benefits include:
A Disabled person’s trust, also known as a vulnerable beneficiary trust, is designed to benefit individuals who qualify as disabled under the Mental Health Act 1983 or receive certain disability benefits.
Unlike discretionary trusts, this structure offers tax advantages, including:
The trust allows funds to be managed for the disabled beneficiary's benefit while protecting their entitlement to means-tested benefits. Trustees must ensure that funds are used appropriately for the beneficiary’s welfare.
An 18-25 trust is commonly used to manage an inheritance for young beneficiaries in a controlled manner. Unlike a standard discretionary trust, this trust ensures the beneficiary receives full entitlement to the assets by their 25th birthday.
Key features include:
A Bereaved minor’s trust is a special trust designed for children under 18 who have lost a parent. It ensures the child is financially supported while they are a minor and guarantees that they inherit outright when they turn 18.
Key benefits include:
A Will trust comes into effect upon the death of the person who created the Will (the testator). Assets such as property, savings, or investments are transferred into the trust and managed by appointed trustees.
The trustees are responsible for distributing income or capital to the beneficiaries according to the trust’s terms. Some trusts provide fixed benefits, while others allow trustees flexibility in distributing assets.
Certain trusts can also offer tax advantages and asset protection. The trust remains active until a specified event occurs, such as a beneficiary of a Will reaching a certain age or the death of a life tenant.
A Will trust offers several benefits, including:
A solicitor can advise on the most suitable trust based on personal and financial circumstances.
Yes, a Will trust can help protect assets from being used to pay for care home fees, but its effectiveness depends on the type of trust and individual circumstances, so it is important to consult an expert solicitor.
Life Interest Trusts allow a surviving spouse to benefit from assets (e.g., live in a family home) while ensuring capital passes to children. Discretionary Trusts may also provide protection, as assets held in trust may not always be counted for means-testing purposes.
However, local authorities can challenge trusts created specifically to avoid care costs. Seeking legal advice early is essential to ensure asset protection aligns with legal and financial rules.
When you instruct our Will trusts solicitors, we promise:
You can contact us about Will trusts by getting in touch with our solicitors in West Sussex and Hampshire at your local branch in Chichester, Fareham, Havant or Petworth.
Alternatively, you can fill in our online enquiry form and a team member will be in touch shortly.