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 and Mrs Prudent are concerned that if Mrs Prudent dies and Mr Prudent needs to live in a care home, their house will be sold to pay Mr Prudent’s care fees and swallow up their children’s inheritance. To prevent this happening, they have put trusts in their wills. When Mrs Prudent dies, her half of the house will belong to her trustees. The trustees will allow Mr Prudent to continue living in the house for the rest of his life, but if he moves into a care home, Mrs Prudent’s half cannot be used to pay her husband’s care fees and instead go to her children as per her will.
For further advice on trusts in your will, contact Marie Tisdale in the wills and probate team on 01543 267 981 or email@example.com. Ansons Solicitors has offices in Cannock and Lichfield, Staffordshire.