Trusts
Where more complex estates are concerned, consideration should be given to the use of trusts. This is particularly true if you want your wishes to control your property for an extended period after your death.
A trust may be appropriate where your beneficiaries are children. You may wish to prevent younger adults from having access to substantial funds if they are not sufficiently mature to deal with large amounts of money.
In a time when second families are increasingly common, you may want your spouse to benefit from the use and income of your estate whilst ensuring that it passes, ultimately, to your own children.
Alternatively, you may wish to give your trustees the power to decide how best to distribute your estate after your death in light of the different needs of your beneficiaries and the inheritance tax rules in force at that time.
In all these situations a trust could provide the solution.
