Will Writing – Explaining Discretionary Trusts

We have recently had an enquiry from a client in the Romsey area asking for advice on will writing, estate planning and how to set up a trust.

A Discretionary Trust is one in which the beneficiaries do not have the legal right to demand payment of Trust income or capital (unlike beneficiaries of other types of trusts). Payment is wholly within the discretion of the Trustees, as are the amounts and frequency of the payments. The Trustees’ powers are defined by the creator of the Trust in the Trust Instrument. See http://www.heritagewillwriting.co.uk/how-do-trusts-work/and http://www.heritagewillwriting.co.uk/discretionary-trusts/ for a more detailed explanation.

When Heritage Will Writing drafts your will, your will becomes the trust instrument. This type of Trust may be appropriate in some cases.

To discus more specific details about Trusts and how they may fit in to your Estate Planning strategy, call Adam on 02380 879243 at Heritage Will Writing.