Introduction to Will Trusts
A beginner's guide – what they are, why they matter, and when to use them
If you're new to willwriting, the word "trust" can feel intimidating. It sounds complicated. It sounds like something only wealthy clients need.
But here's the truth. Trusts are not just for the rich. They are practical, powerful tools that solve real family problems – and understanding the basics will transform your client conversations.
This guide introduces Will Trusts in plain English. No jargon. No assumptions. Just the essentials you need to get started.
👥 The Three Key Roles
👤
The Settlor
Creates the trust and puts assets into it
🔑
The Trustees
Manage the trust according to your instructions
❤️
The Beneficiaries
Will ultimately benefit from the trust assets
Tap any role for a quick reminder
🤔 Why Use a Trust in a Will?
Most Wills leave assets outright. But sometimes, outright inheritance isn't the right answer.
- Protect assets for children – prevent an 18-year-old inheriting a life-changing sum before they're ready
- Provide for a partner while protecting children's inheritance – the partner can live in the family home, but the capital is preserved for the children
- Support vulnerable beneficiaries – without disrupting means-tested benefits
- Protect assets from future risks – such as divorce, bankruptcy, or remarriage
📖 A Real-Life Example
Sarah has two children from a previous marriage and has recently remarried. She wants her new husband, David, to live in the family home if she dies first. But she also wants to make sure her children inherit the property eventually.
The solution: A Life Interest Trust in her Will. David gets the right to live in the house for his lifetime. When he dies (or moves out), the house passes to Sarah's children.
Without a trust, David would inherit the house outright. If he remarried or left it to his own family, Sarah's children could lose their inheritance entirely.
📚 Common Types of Will Trusts
🏠 Life Interest Trust
One person (the "life tenant") has the right to live in a property or receive income during their lifetime. After their death, the assets pass to the "remaindermen" (usually children).
Best for: Blended families, second marriages 🎁 Bare Trust
Assets are held in trust for a child or young adult until they reach a specified age (usually 18 or 21). The beneficiary has an absolute right to the assets at that age.
Best for: Leaving inheritance to young people ⚙️ Discretionary Trust
Trustees have discretion over how and when to distribute income and capital to a group of beneficiaries. No beneficiary has an absolute right to anything.
Best for: Vulnerable beneficiaries, complex family situations 💬 When Should You Discuss Trusts with a Client?
- Clients with children from a previous relationship
- Clients who want to protect a family home for their children
- Clients with young children who might not be ready to inherit at 18
- Clients with vulnerable or disabled family members
- Clients concerned about care home fees or protecting assets from future risks
🌱 A Note for Beginners
You don't need to be a trust expert overnight. Start with the basics:
- Understand the three roles (settlor, trustees, beneficiaries)
- Know the most common types (Life Interest, Bare, Discretionary)
- Recognise the client scenarios where a trust might help
- Know when to seek further training or refer to a specialist
🎯 Ready to Learn More?
Our Introduction to Will Trusts webinar is designed specifically for practitioners at this stage – practical, accessible, and focused on real client situations.
📞 0345 257 2570 | ✉️ [email protected]
Disclaimer: This article provides general information about Will Trusts for educational purposes. It does not constitute legal advice. Professional guidance tailored to individual circumstances is essential.