Advice Admin & Legal What is a Discretionary Will Trust?

What is a Discretionary Will Trust?

What is a trust?

A trust is a way to set aside money or assets in your will to be looked after by a trustee – usually someone you trust – for the benefit of someone else. There are different types of trusts, but they’re often used to protect assets, support loved ones over time, or give you more control over how and when things are passed on.

What is a Discretionary Will Trust?

A Discretionary Will Trust gives the people you choose as trustees the power to decide who gets what, when, and how, based on what’s best at the time.
You choose who the trustees are, what goes into the trust (like your home or savings), and who might benefit.
After you’re gone, your trustees decide:

Which beneficiaries receive support
When they receive it
And how it’s paid out

That way, your loved ones are cared for, even if their needs change over time.

This type of trust only comes into effect after you’ve died.

HOW LONG DOES IT LAST?

A Discretionary Will Trust can last for up to 125 years, or once the trustees have distributed all the assets.

What are the advantages of a Discretionary Will Trust?

It gives your trustees the flexibility to adapt to life’s twists and turns, deciding who gets what, when, and how.
It protects your loved ones’ inheritance from outside risks like divorce, coercive control, debt, or poor decision-making.
It stands the test of time, potentially protecting future generations without needing to rewrite your will.
It’s especially helpful if you want to support someone who may need extra guidance or protection when it comes to money.
Your trustees can make sure the people you care about are looked after, without putting your legacy at risk.
It can be tax-efficient for your beneficiaries, as it may reduce Inheritance Tax on their estates when they die, depending on how it’s set up.