Seven special reasons for using a trust in your will: Reason 7 – Divorce and bankruptcy

2nd February 2015

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.

Reason 7 – Divorce and bankruptcy

Mr Astute is concerned about his daughter. Not only does she run her own business which is struggling, but she is also in an unstable marriage. If his daughter is bankrupt when Mr Astute dies, he does not want her inheritance to go straight to the creditors. Likewise, he does not want her to lose half of her inheritance in divorce proceedings. Mr Astute has put a trust in his will, which means his trustees can control the timing of any payments to his daughter or they can use the funds to benefit Mr Astute’s grandchildren instead.

For further advice on trusts in your will, contact Marie Tisdale in the wills and probate team on 01543 267 981 or Ansons Solicitors has offices in Cannock and Lichfield, Staffordshire.