A discretionary trust lets the trustees you choose decide which beneficiaries receive income or capital, how much they get and when, rather than fixing shares in advance. It is a way to protect family wealth while leaving room for life to change. Picture grandchildren who are still at school, a son ... read more
A letter of wishes is a private, non-binding note kept with your will that guides your executors and trustees. It does not change the legal terms of your will, but it explains how and why you would like decisions to be made. Your will says what happens to your estate. A letter of wishes explains the... read more
A trust in a will, also called a will trust, is a provision written into your will that only takes effect after you die: your executors pass assets to trustees, who then manage them for your beneficiaries under the instructions set out in the will. People use will trusts to protect children, provide... read more
A life interest trust lets someone, usually a surviving partner, live in a home or receive income for life, while the capital passes to others, often children, when they die. The person with the right to the income or the home is called the life tenant. Imagine you want your spouse to feel secure in... read more