Will trusts are created to protect your assets and your beneficiaries by reducing any potential complicated circumstances that may become apparent when drafting your Will.
A trust included in your will may be an important factor when protecting and preserving your assets and properly providing for your family some examples are.
You may wish to leave assets to a vulnerable person perhaps a child or other dependant relative. A discretionary trust allows protection of your assets for the benefit of you loved ones and discretion and control on how and when those assets are passed to your chosen beneficiary.
A life interest trust can be included in your will as a means of providing security for individual usually your spouse and children the trust allows for an asset to be split into capital and income elements.
Accumulation and Maintenance
This trust is designed to provide protection for children and young adults up to the age of 25. Importantly this trust allows the trustees the discretion over how to use the income for the benefit of the child so perhaps safeguarding their education needs as an example.
A Trust to protect your family and home
Property protection trust
The advantages of setting up a property protection life interest trust are that it gives you the certainty that your 50 % share of your home will be passed onto your chosen beneficiaries whilst allowing your spouse to continue to enjoy the benefits of the property for their life or for an agreed period.