People often wish to create “trusts” within their Wills. Trusts are a way of protecting assets and some examples are:
1. To allow a surviving partner to continue to live in a house for the rest of their life, with the house then passing to named beneficiaries (“a Life Interest Trust”).
2. A “Discretionary Trust” – this trust gives the people in charge of the trust, “the Trustees” discretion as to when it is best to pay money, how much, and to which of the beneficiaries named in the Trust.
3. A Trust for a disabled member of your family.
It is important for us to understand your family circumstances, financial position, property ownership and motivation in wishing to create a Trust in your Will. We will discuss the various options with you and provide a letter of advice along with a draft of your Trust Will for you to consider. We will then discuss any questions or concerns you have before finalising the terms of your Trust Will.