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Trusts

  • When you pass away, a Trust within your Will ensures that your estate is looked after in the way you intended

  • Give control of your estate to the correct people at the right time

  • Free, no-obligation consultations available with our experts

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Talk to an expert about:
  • Single or joint Wills and Trusts
  • Lasting Powers of Attorney
Call fee 0808 208 4012

These pages give a general overview of the issues surrounding estate planning and are based on our understanding of the current law and tax regulation in England and Wales, which may be subject to change. Wills and LPAs are not regulated by the Financial Conduct Authority.

What is a will trust?

A will trust is additional legal wording within your will which enables your estate to be safeguarded for your beneficiaries after your death. Assets like your property or money can be secured for a particular purpose and time, such as until a beneficiary is old enough to inherit.
 

How does a trust protect the beneficiary?

Divorce

  • Any funds left in trust cannot be taken into account as part of a divorce settlement

Bankruptcy

  • Funds left in the trust are not liable to be surrendered as part of asset liquidation in bankruptcy proceedings

Mitigate inheritance tax liability

  • By leaving funds in trust to a grandchild, for example, it'll bypass the estate of your child. By bypassing the middle generation, you could potentially take away the need for your grandchild to pay inheritance tax on the estate of your child

Make your decisions known

  • A trust help make provisions for a beneficiary who is disabled or unable to look after their own assets

What is a discretionary will trust?

A discretionary will trust enables you to provide for loved ones after you’ve passed away. You nominate two trustees to manage the trust fund and leave specific instructions as to how and when the money is to be used for each beneficiary.

With a discretionary will trust, you can request the money to be spread out over a period of time, or paid at a particular time, for example, an eighteenth birthday. This type of trust is suitable for many people, including:

  • People who want to ensure a disabled relative is adequately provided for

  • People wishing to mitigate a potential Inheritance Tax (IHT) liability

  • People who have a beneficiary who is a minor

What is an interest in property trust?

A interest in property trust safeguards your partner by changing the way you own your house. Each partner will own a proportion of its value, rather than both owning 100% of the property together.

Each partner will then be able to bequest their percentage of the property as they see fit – safeguarding some of your loved-ones inheritance, but still enabling your partner to remain in the property even if you leave your share to someone else. This type of trust is suitable for many people, including:

  • Mature couples who are looking to equalise their assets

  • Families where one or both partners have children from a previous relationship

  • Couples where there is a significant age difference between partners

  • Couples who individually wish to ensure the inheritance of their children or other beneficiaries, without forcing their partner to sell their home

Why choose Key for estate planning?

At Key, our personal service and bespoke estate planning solutions give you the help and expertise you need to make sure you’re fully prepared, no matter what the future holds. Here's an idea of what you can expect with Key's estate planning service.

Expert advice

  • With years of focused experience and care, our estate planning specialists are fully qualified and members of The Society of Will Writers

Honesty

  • We won’t recommend anything that isn’t right for you and your family. We’ll lay everything out in plain English so you have full transparency

Hassle-free personal service

  • You'll deal with the same estate planner throughout the process to ensure a sense of consistency and familiarity

Attention to detail

  • We'll ask the right questions to make sure your wishes are fully documented and secured

Making a Will or Lasting Power of Attorney is quick and easy with us

We are offering a free, no-obligation consultation with one of our estate planners on your Will and any trusts you should consider. We can also create your Lasting Powers of Attorney (LPA).

To take the first step, why not book a call with one of our estate planners. It's free and there's no obligation to proceed. You'll have the chance to ask any questions you may have, and they can talk you through your options.

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Page last updated: Friday 05 April 2024