Life Interest Trusts

Protect your children’s inheritance and look after your spouse for their life

Most people are not aware that if you make a mirror Will with your partner or spouse, your spouse can change their Will after your death. Let’s say you left everything to your spouse and after their death, your estates were meant to be lumped together and shared equally between your respective children from previous marriages. That’s all well and good as long as when you die your spouse does not change their Will and cut your children out. You might say that will never happen to you, but it happens every day. 

Life Interest Trusts are a must if you want to ensure your children receive your share of your estate. So, instead of leaving your share of the estate to your spouse absolutely, leave it to them as a Life Interest Trust, with your children as the beneficiaries of that Trust when your spouse dies. This means your spouse can live in the family home for the rest of their life. They can sell the home and buy another. They are free to invest and use the capital for their own benefit as long as they are alive. Even if your spouse remarries or changes their Will, your share in your estate is ringfenced for your children. 

Now that’s peace of mind.

We recommend you include a Life Interest Trust in your Will when there are children involved, especially children from a previous marriage.  So that, no matter what happens after your death, your children still receive their inheritance in the future.

If you want to make a Will, review your Will or change your Will, CONTACT JULIE ATKINSON-MCGREGOR ON 0191 455 3181 for an appointment today.

It’s never too early to plan for the final journey.