Discretionary Will Trusts

The ultimate guide to understanding the benefits and features of this type of trust.

What is a Discretionary Will Trust?

A Discretionary Will Trust refers to a particular type of trust that is established within a Will and becomes operational when you pass away. Its purpose is to grant you greater control over who benefits from your estate .

How Does a Discretionary Will Trust Work?

A Discretionary Will Trust operates by appointing trustees to oversee the management of your assets once you have passed away. These trustees hold the discretionary power to distribute the assets in accordance with the stipulations outlined in the trust, while considering the specific circumstances of each beneficiary.

The beneficiaries of a Discretionary Will Trust are designated in the Will, and the trustees possess the authority to determine how the trust funds will be allocated for the beneficiaries’ advantage. This may encompass a diverse range of beneficiaries, including children, grandchildren, and charitable organisations.

Benefits of a Discretionary Will Trust

There are several benefits to setting up a Discretionary Will Trust, including:

  • Flexibility: The trustees possess the discretion to distribute assets as specified in the trust, granting you greater flexibility in providing for a wide array of beneficiaries.
  • Tax Efficiency: A Discretionary Will Trust can be a tax-efficient way of passing on your assets to your loved ones, as it can help to reduce inheritance tax liabilities.
  • Protection: A Discretionary Will Trust can provide protection for vulnerable beneficiaries, such as children or those with disabilities (through a Vulnerable Persons Discretionary Trust).

How We Can Help

Twilight Group specialises in creating customised Discretionary Will Trusts tailored to your exact requirements and circumstances. Our team of highly skilled and seasoned estate planning experts are here to assist you in navigating the intricate path of establishing a Discretionary Will Trust, guaranteeing that the distribution of your assets aligns seamlessly with your desires.

Whether your objective revolves around ensuring the well-being of your loved ones, safeguarding vulnerable beneficiaries, or strategically minimising the burden of inheritance tax, our comprehensive range of services is meticulously designed to simplify and streamline the process of creating a Discretionary Will Trust.

Should you require further information regarding Discretionary Will Trusts, we encourage you to promptly reach out to us. Our dedicated team eagerly awaits the opportunity to address any queries you may have and readily facilitate a complimentary consultation. Waste no time and contact us today to schedule an appointment, marking the inaugural stride towards fortifying your legacy.

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