UK Will Trusts

Will Trusts are trusts that are defined within your last will and testament. They are often used to pass assets to trust funds rather than to a particular person.

Typically they can be used for inheritance tax reduction or to protect assets, maybe shielding them from care cost assessment, or to ensure that one partners children inherit their assets.

There are many different kinds of trust that can be incorporated with your will. Typically we see Nil Rate Band Trusts used for inheritance tax mitigation for unmarried couples. Lifetime Interest trust can be used to give a partner a use of an asset for their lifetime or for a defined period but not give them access to the asset or capital itself.

Children Trust funds are also commonly included within UK wills, used to bequeath assets into on death and usually accompanied by an instruction to the trustees not to release the money until the child reaches a given age.

Pet Trust can also be used to put money aside on your death to ensure you pets is cared for.

Disabled Discretionary Trusts, can be used to make provision for a disabled person.