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Life Interest Wills and Trusts

At Sheppersons we are specialists in estate planning. Life interests have a variety of uses and we can advise you on these and how they may be used in planning your estate.

A life interest trust can offer a solution to the problem of protecting your children's inheritance whilst still providing for the current spouse.

Life Interests for Second Marriages

If you have remarried following divorce or bereavement, contact usand you have children from a previous marriage, it is possible to ensure the financial security of your current spouse whilst still protecting your children's eventual inheritance.

Without a life interest, using a normal Will, if you leave everything to your new partner your assets would become theirs when you die. When they then die, those assets would form part of their own estate and would then be passed to their beneficiaries, who may be their own children, thus depriving your children of any intended inheritance.

This situation can be avoided with a Life interest Will.

Property is a good example of where this can be used. You may wish to leave your property to your children eventually, but still enable your current spouse to live in it after you have died.

You can give your partner a life interest in the property, by means of a trust, meaning that after your death they can live in the property until they die (or remarry if you wish), at which point the property passes to your children or other beneficiaries.

In this way you can protect both your partner and eventual beneficiaries.

Benefits of a Life Interest Trust

Which assets can form part of a Life Interest Trust?

Contact us for more information or to arrange a consultation.