Published on: 28th July 2025

Are Trusts Only For The Rich?

There is a common misconception that the use of trusts is restricted to the upper echelons of society as a means of protecting wealth.  However, there are a great many benefits to incorporating trusts as part of a sound estate planning strategy.  The following are just some of the ways trusts can be used to benefit even the most modest of estates;

Protecting Vulnerable Beneficiaries

For example, setting up a trust for a child or an adult with disabilities so that they receive support without directly handling the funds.  This strategy can also allow a vulnerable person to benefit from an estate without losing any means tested benefits they may be in receipt of at the time.

Avoiding Probate Delays

A trust can help pass assets outside of a Will, which may speed up distribution of assets after death and make the role of an executor far less laborious.

Controlling Inheritances

Trusts let you decide how and when beneficiaries receive money — e.g. a child or grandchild only receiving their inheritance once they have attained a particular age, rather than receiving their entire inheritance in one go.

Protecting Family Homes in Second Marriages

With the instances of blended families on the increase, there can often be some insecurity on the part of a surviving spouse if they have step-children with whom their relationship breaks down following the death of their parent.  In these cases, using a life interest trust ensures a spouse can live in their home for the rest of their life, with the property only passing to their step-children once they too have passed away.

If you would like to speak with one of our Consultants to discuss any of the issues raised in this article or any other Estate Planning topic please telephone 01732 868 190 or click here.

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