Trust Wills
A Trust Will includes the same core provisions as a Basic Will, but also contains one or more trust arrangements, such as a discretionary trust, disabled person’s trust or life interest trust, to provide greater control, protection or flexibility over how your assets are managed and passed on.
Trust Wills are often used when a family wants to consider issues such as saving Inheritance Tax, protecting against future care fees, or providing for a vulnerable beneficiary.
Who a Trust Will is right for
A Trust Will is usually worth considering if:
- You want to protect your spouse or partner during their lifetime, while preserving what remains for your children afterwards.
- You are part of a blended family or a second marriage, and want to protect children from a previous relationship.
- You want to provide for a disabled or vulnerable beneficiary, particularly one who receives means tested benefits or who may struggle to manage money independently.
- You want to leave money to younger beneficiaries, with control over when and how they receive it.
- You want to take steps to reduce how much your estate might be required to pay towards potential future care fees.
If none of these apply to you, a Basic Will may be all you need, and we will always tell you honestly which option fits your circumstances.
What is included
We will consult with you personally at your home, by telephone, or by video call. We will help you to determine when and how a legacy can be paid to a beneficiary you want to protect, and the powers to be given to your trustees.
Getting both of these right is what makes a trust arrangement effective.
Your completed Will is delivered within 7 days of us receiving all the information we need from you.
How much does a Trust Will cost
A single Trust Will costs £200. A pair of Trust Wills for couples costs £300. Both prices are fixed, with no hidden costs once your consultation has taken place.
You may also wish to consider whether you need a Letter of Wishes to accompany your Trust Will, and whether a Notice of Severance is required to enable the provisions you make in respect of your home to take effect.
Will a Trust Will make things harder for my executors?
No, not if it is drafted properly.
A well-drafted Trust Will sets out clear, workable instructions for your trustees to follow, which makes their role more straightforward, not more difficult.
The complexity lies in getting the drafting right at the outset, which is our job, not something your executors need to work out for themselves later.
Learn more about specific types of trust
Each type of trust suits different circumstances. If you want to understand more before your consultation, these guides go into further detail:
- Should I use a trust for my children?
- What is a life interest trust?
- Can trusts protect against care fees?
- Discretionary trusts in a Will, explained
You may also want to consider a Letter of Wishes alongside your Trust Will, to guide your trustees informally, or a Notice of Severance if you own property jointly with someone else.
How to get started
Booking a Basic Will with Wise Owl Wills takes three simple steps:
Make contact by telephone or use our online form.
Talk through your needs and confirm your wishes.
Receive your completed Will within 7 days
Book your free consultation or call us on 0161 524 1033 to get started.
