Will Trust experts based in Northamptonshire.
Different from Lifetime Trusts in that Will Trusts only come in to force following the death of the Testator/Testatrix because their creation is specified within the Will. The Trust must then be set up by the Executors who (unless specified differently) also become the Trustees of the Trust and who must then administer it until it’s closure (as determined by death or other factors usually).
Will Trusts are valuable instruments which have been used for many years to enable the Testator/Testatrix to “rule from the grave” by giving instructions beyond the date of their death.
An example of the simplest form of Trust is when benefit is given to a minor person under the terms of a Will (the minor person is someone under the age of 18 years), it is always given within a bereaved minor’s Trust at the very least which specifies that the minor may not inherit the gift until he/she achieves the age of 18.
There are Will Trusts covering most eventualities as already discussed viz. protection, disability etc.
Life Interests are also given through the Will quite commonly and this could be the right of occupation within a property for a certain amount of time or until death for example or, it could be that a right to use a share of the property is similarly given but with another beneficiary on death.
If you or anyone you know is looking for more help and guidance regarding Will Trusts, then please give us a call for a confidential, no obligation consultation. We are able to visit you in your own home at a time that is most convenient for you.
We cover the following areas; Northamptonshire, Warwickshire, Buckinghamshire, Oxfordshire, West Midlands, London and The Home Counties.