Embedded Files
Setting up a Will Trust in Devon & Cornwall is an effective way to protect your assets, provide for your loved ones, and ensure your wishes are carried out exactly as intended. Learn about how Will Trusts work, the different types available, potential costs, asset protection benefits, and whether a Will Trust may be suitable for your circumstances.
A professionally drafted Will Trust will provide an additional layer of protection and control beyond a standard Will, helping to safeguard assets for future generations, support vulnerable beneficiaries, and address more complex family situations.
Whether you're exploring Will Trusts for the first time or already considering one as part of your estate planning, this guide explains the key concepts in plain English and helps you understand the options available to you.
Explore our Frequently Asked Questions page to add more detail or contact us for a chat.
What is a Will Trust?
What is a Will Trust?
A Will Trust, also known as a Protective or Parent's Will, is a legal arrangement created within your Will that allows assets to be managed by people you trust on behalf of your chosen Beneficiaries after your death.
It helps ensure your estate is distributed in a controlled, structured and tax-efficient way.
Will Trusts are commonly used in UK estate planning to protect family assets, control how inheritance is passed on and support children or vulnerable beneficiaries
How a Will Trust works
How a Will Trust works
When a Will Trust is created special instructions are added that sets out the trust instructions.
Trustees, which can be firends or family, are appointed to manage the assets and the Beneficiaries named who are to receive benefits based on the trust terms.
This ensures your wishes are followed even after your death.
Why people use Will Trusts
Why people use Will Trusts
A Will Trust can provide greater control and protection over your estate compared to a standard Will.
People typically use them to protect property for a surviving partner or children or to ensure assets are used responsibly by beneficiaries, but are also used to plan for remarriage or blended families.
A Wil Trust provides long-term inheritance planning and can add structure to how wealth is passed on by protecting against care fees and assets leaving the bloodline.
Types of Will Trusts
Types of Will Trusts
Property Protection Trust: Often used to protect a share of the family home while allowing a partner to continue living in it.
Residuary Discretionary Trust: Gives Trustees flexibility to decide how and when beneficiaries receive assets.
Flexible Life Interest Trust: Helps safeguard assets from risks such as re-marriage after first death, care fees, or allowing a partner to benefit form the assets while preserving them for the next generation.
Benefits of a Will Trust
Benefits of a Will Trust
A properly structured Will Trust can:
Protect family wealth for future generations
Reduce risk of assets being misused
Provide flexibility in how inheritance is distributed
Support vulnerable or younger beneficiaries
Add structure and control to your estate plan
Mitigate the impact of Care Fees and inheritacne tax on an estate
Our Will Trust Service
Our Will Trust Service
If you're considering a Will Trust, the first step is understanding what it can do and whether it's right for your circumstances. That's where we can help.
We'll take the time to explain the available options in plain English, without the legal jargon, so you can make an informed decision with confidence. Every family is different, which is why our recommendations are tailored to your specific situation and what you want to achieve.
Should you decide to proceed, we'll handle the preparation of the Will Trust documentation. We can meet with you in the comfort of your own home, or if you prefer, arrange a telephone or video consultation.
Explore Key Areas of Will Trust Planning
We've given is a brief overview of key areas below but to help you understand how Will Trusts work in practice in more detail, explore:
Why Choose us?
Why Choose us?
Estate planning is about more than legal documents, it's about protecting the people and assets that matter most to you.
As local specialists serving Devon and Cornwall, we provide clear, practical advice designed to help you understand your options and choose the right solution for your family. We believe professional estate planning shouldn't be confusing or intimidating, which is why we explain everything in straightforward language and offer transparent fixed fees from £499.
Our role is to guide you through the options, answer your questions, and help put the right arrangements in place for your family's future.
Not sure if a Will Trust is right for you?
If you’re unsure whether a Will Trust is right for you try our Find My Will Type Assessment Quiz:
It's free, takes 60 seconds and will guide you to the most suitable option based on your situation.
Final Thoughts
Final Thoughts
A Will Trust is about more than simply passing assets from one generation to the next.
It's about protecting what you've worked hard to build, maintaining greater control over how your assets are used in the future, and providing lasting support for the people who matter most to you.
For many families, a carefully structured Will Trust can offer valuable protection, flexibility, and peace of mind. The key is understanding your options and choosing an arrangement that reflects your wishes and your family's circumstances.
If you're unsure whether a Will Trust is right for you, we're here to help you explore the possibilities and make an informed decision with confidence.
Which Type of Will Do You Actually Need?
Which Type of Will Do You Actually Need?
Take our Free, No Obligation Assessment - click HERE to start
A Will Trust provides a protective element. It ensures that vulnerable family members, such as minor children, vulnerable adults, or those on means tested state benefits, are looked after in a way you choose.
For example, rather than giving a child a large lump sum at 18, which they might not be ready to manage, a Will Trust can release funds gradually, helping them cover education, living costs, or even major life events safely or the Trust can keep hold of the money so benefits are not compromised, but the money is there to add to the support they need.
Protecting your legacy from the risks of divorce of a Beneficiary is a key reason to use a Will trust. Effectiivley, you ensure that a beneficiary’s inheritance remains ring-fenced from claims from the other side - in simple terms, your Beneficiry doesn't own the assets so they can't be claimed.
The assets are held by the Trustees until the divorce is finalised and the danger has passed, but can help pay towards the cost of the legal fees and by doing so ensuring the best possible legal representation is obtained and that the money never leaves the bloodline.
Assets passed to a Beneficiary directly inevitably form part of their own estate and will, if not spent, become subject to inheritance tax.
This is known as Generational Inheritance Tax and is where assets either push a Beneficiary's estate over the tax threshold or add to an already taxable estate. Assets passed to a Will Trust can still be accessed by the Beneficiary, but can be passed on as a loan (interest free) that is only ever repayable on death.
Peace of Mind - Ultimately, the protective elements of a Will Trust give you peace of mind. Knowing that your assets are secure, and that your instructions will be followed prevents sleepless nights.
Care Fees - a bug bare of many and it's understandable, but the only legitimate way to reduce the impact on a couple's estate is a Will Trust. Anythign else is frowned upon, if not illegal.
Certainty & Control - You can specify exactly how and when your assets are used, and even include conditions for distribution, such as completing education or reaching a particular milestone.
Contact Us for a No Obligation Chat about a Will Trust
Drop us an email at enquiries@twplan.co.uk and tell us how we can help, book directly or just give us a call on 01822752055
Page updated
Report abuse