Will Trusts

A Property Trust or Life interest Trust

A Property Trust or Life Interest trust are very similar and can be used to provide for a partner whilst they are still alive and then have a beneficiaries inherit once they pass, they can have other advantages to and help with protecting from potential care home fees and inheritance tax.

Life Interest Trust

Protecting Spouse’s Interests: Life Interest Trusts are often used to protect the surviving spouse’s right to live in a property or receive income from trust assets while ensuring that the ultimate beneficiaries, typically children, inherit the assets eventually.

Control over Assets: The trust can specify how the assets are to be managed during the life tenant’s lifetime, providing control and flexibility over the distribution of the estate.

Care Home Fee Planning: Life Interest Trusts can be used for care home fee planning to ring-fence assets for the benefit of the surviving spouse while potentially minimising the impact of care home fees.

Disability Trusts

At The Will Place, we understand that comprehensive estate planning is about more than just distributing assets—it’s about securing a future that provides for every member of your family. If you have disabled children, a Disability Trust could be a vital component of your estate plan.

Why Establish a Disability Trust? 

Financial Security:

Disabled individuals often have ongoing and specific financial needs. A Disability Trust allows you to set aside funds dedicated to the care, support, and well-being of your disabled children. This ensures they have the financial resources necessary to maintain their quality of life.

Protecting Means-Tested Benefits:

Many disabled individuals receive means-tested benefits. A properly structured Disability Trust can help protect these benefits by preventing the inherited assets from being considered in means-testing calculations. This ensures your loved ones continue to receive the support they need.

Tailored Care and Support:

A Disability Trust allows you to provide detailed instructions on how the funds should be used to meet the unique needs of your disabled children. Whether it’s for medical care, therapy, education, or enhancing their overall quality of life, the trust can be customised to address specific requirements.

Long-Term Planning:

Estate planning for disabled children involves considering their long-term care. A Disability Trust allows you to plan for a lifetime, providing a structured and secure financial foundation that ensures ongoing care, support, and quality of life.

Legal Protections:

Establishing a Disability Trust provides legal safeguards to protect the interests of your disabled loved ones. By outlining your wishes in a legally binding document, you ensure that the trust is managed according to your instructions, providing you peace of mind.