The rich variety of family life can throw up a wide range of considerations when making your will. If you have been married before and have children from different relationships to provide for, or you are concerned about providing for relatives with physical or mental incapacity, then a trust in your will might be the solution you are looking for.
In this series of guides, Marie Tisdale, head of wills and probate law at Ansons Solicitors in Lichfield and Cannock, Staffordshire, gives her seven special reasons where a trust in your will might be beneficial.
Mr Smart wants to leave his estate to his three nieces but one of them is a single mum who is dependent on income support. If she receives a lump sum of one third of Mr Smart’s estate, she will lose her benefits. In his will, Mr Smart has chosen trustees to look after his niece’s third share. His trustees will be able to release funds to her as and when needed, taking care not to exceed the income support capital limit.
For further advice on trusts in your will, contact Marie Tisdale in the wills and probate team on 01543 267 981 or firstname.lastname@example.org. Ansons Solicitors has offices in Cannock and Lichfield, Staffordshire.