1. What is a Trust Will?
Trust Wills are a type of will that can be created to protect assets for your loved ones to access. As with all wills, it is important to consider the importance of what you want to be preserved.
Trust Wills are often used if:
- You want to preserve your assets against future care fees.
- You have children from a previous relationship that you wish to care for.
- You plan to leave part of your estate to someone who is disabled or vulnerable
2. What does a Trust Will do?
When preparing a will, you must choose people that you wish to leave your estate to, called beneficiaries. If you decide that you would like to limit your beneficiaries access to their inheritance, a Trust Will allows you to choose people to take care of your estate called Trustees.
Trustees will control any assets that you wish to include in the Trust Will and must always act in the best interests of your beneficiaries.
Any Trustees that you choose must be people that you trust to responsibly manage your assets, be well organised and informed about their duties.
3. Types of Trust Will
As part of our legal services, Zen offers advice and drafting expertise in the following types of Trust: