What Is a Will Trust – And Do I Need One?
You’ve probably heard of a Will. But what about a Will Trust?
If you're looking to protect your property, support a loved one with additional needs, or keep things a bit more flexible for the future, then a Will Trust might be something worth considering. It’s not for everyone — but for the right situations, it can be incredibly useful.
Here’s what it actually means, in plain English.
What is a Will Trust?
A Will Trust is something you can include in your Will. It lets you set aside money, property, or assets, not to give away all in one go, but to be looked after by people you choose (your Trustees) for the benefit of someone else (your Beneficiaries).
It only comes into effect when you die, and it gives you more control over how your estate is handled.
Why might you want one?
Here are a few common reasons I see:
1. To protect your home for your children
If you’re in a couple and want your partner to carry on living in your home after you’ve gone, but you also want to make sure your children eventually inherit your share, a Property Trust in your Will can help make that happen.
It means your partner is safe in the home, but your share is protected for your children later.
2. To support a vulnerable person
If someone you love isn’t able to manage money easily, or you’re worried about them losing benefits or being taken advantage of, a Discretionary Trust or Vulnerable Person’s Trust can help.
This way, the money is there for them, but it’s managed carefully and not given all at once.
3. To protect inheritance from divorce or debt
Some people set up Trusts to help shield family money from being lost if a child goes through a divorce, gets into debt, or faces other life bumps down the road.
4. To reduce Inheritance Tax
In some cases, Will Trusts can also be part of wider estate planning to reduce the amount of tax that needs to be paid. It’s not a one-size-fits-all solution, but it’s worth exploring.
Is it right for you?
Not everyone needs a Will Trust. But if you’ve got property, complex family needs, or just want more control, it could be a good idea.
We’ll talk through your situation and options so you can decide what’s right for you.
Want to find out more?
I offer friendly, flexible appointments online (via secure Zoom) or in person across much of the South West. I’ll guide you step-by-step and help you understand your options without pressure or jargon.
Just send me an email for a free no obligation meeting.