Trust Wills: What They Are and Why Families Use Them
When planning your estate, one of the most effective tools for protecting your assets and supporting loved ones is a trust will. Trust Wills combine a traditional will with a legal trust structure, allowing you to determine not just who will inherit your assets, but how and when they should receive them. Whether you want to protect property, support a vulnerable family member or provide long-term security for a spouse and children, trust wills offer a flexible and reliable solution.
Trust wills are especially useful in situations where you want to keep more control over what happens to your assets after you pass away. Unlike a standard will—where assets are transferred outright to beneficiaries—trust wills allow you to hold certain assets in trust, managed by trustees whom you appoint.
How Trust Wills Work
In a standard will, beneficiaries receive their inheritance immediately after probate is completed. However, there are many circumstances where you may prefer that your assets are held and managed over time. This is where trust wills become valuable.
A trust will allows you to name trustees (people responsible for managing your assets) and beneficiaries (those who benefit from the trust). The trustees legally hold the assets on behalf of the beneficiaries and must follow the instructions you set out in your will.
Trusts can be used to:
Protect property
Provide long-term support to a spouse
Safeguard inheritance for children
Support vulnerable or disabled loved ones
Control how and when assets are accessed
Do Trust Wills Affect Probate?
The presence of a trust does not usually remove the need for probate. Whether probate is required depends on the size and type of assets in the estate. However, the instructions contained within the trust may affect how assets are managed during and after the probate process.
Types of Trust Wills
There are several types of trust wills, each designed for different family situations.
1. Property Trust Will
A property trust will (also known as a protective property trust) allows you to place your share of a property into trust. This ensures the right person benefits during their lifetime—usually a spouse or partner—while protecting the property’s long-term value for your chosen beneficiaries.
Example benefits:
Guarantees who ultimately receives your share of the property
Protects the property if a surviving partner remarries or updates their will
Helps preserve the property for future generations
This is typically suited to married couples or civil partners who jointly own a home.
2. Flexible Life Interest Trust Will
A flexible life interest trust will is similar to a property trust will but covers more than just property. You can place your entire estate—or selected parts of it—into the trust.
A nominated person (often a spouse) receives a life interest, meaning they can live in the property or receive income from your assets during their lifetime. Once their life interest ends, the assets pass to your chosen beneficiaries.
Ideal for people who:
Have significant savings, cash or investments
Want to provide for a spouse while protecting the capital for children
Want clarity over how assets are passed down
3. Discretionary Trust Will
A discretionary trust will gives your trustees full discretion over:
Which beneficiaries receive funds
How much they receive
When they receive it
This is particularly useful for:
Loved ones with disabilities
Anyone unable to manage money independently
Beneficiaries receiving state support
Vulnerable individuals who require long-term protection
Discretionary trusts also offer flexibility if beneficiaries’ circumstances change over time.
Cost of Setting Up Trust Wills
In England and Wales, a single trust will typically starts from around £449, while mirror trust wills (for couples) begin from £849. Costs vary depending on the complexity of the estate and the type of trust chosen. Trustees must act responsibly and follow the terms of the trust, as well as the duties set out under the Trustee Act 2000.
The Role of a Trustee
A trustee manages the trust assets after your death. Their duties include:
Acting impartially and in the best interests of beneficiaries
Managing and protecting trust assets
Keeping accurate records
Seeking financial advice when appropriate
Distributing income or capital according to your instructions
It is common for one person to act as both trustee and executor, although this is not required.
