Discretionary Trust

The Discretionary Trust is a very flexible form of trust. It gives your chosen trustee the discretion to provide for your chosen beneficiaries. Most importantly, it gives you the comfort of knowing your assets will be protected according to your wishes.

What are the benefits?

These trusts are most useful where the settlor has identified a group of people they wish to benefit from but is still determining how much help and who will benefit most in the future.

As the settlor, you give the trustees discretion as to how, when, and for whose benefit some or all the capital and income are used.

Although beneficiaries or a class of beneficiaries are named in the trust deed, it is entirely the responsibility of the trustees to decide which of the potential beneficiaries is to benefit.

As the settlor, you may feel it inappropriate to leave your beneficiary in control of the funds;

This could be due to various reasons. If you have children and are concerned about the potential misuse of your assets, you can decide when they will inherit. This type of trust is also commonly used to distribute assets to beneficiaries who are disabled or mentally impaired, or who have money or addiction problems. It can also be used to protect inheritance from any third-party attacks, such as divorce settlements.

As well as being a very flexible form of Trust, Discretionary Trusts are also advantageous

Because the assets remain outside the beneficiaries’ estates for Inheritance tax purposes and are therefore not included in calculating means-tested benefits. Trust assets and income are also protected from distribution on divorce.

With our continued support, we free you from the burden of worry and provide you with peace of mind that your assets will be inherited by your loved ones when you are no longer here.

At Paradigm Wills and Legal Services, we genuinely care about educating people on the importance of making a will. In an industry often loaded with complex legal jargon and a conveyor-belt mentality, we provide a paradigm shift in how we offer our wills services. We aim to supply fresh ideas, clear and straightforward explanations, and a service tailored specifically to you. With you at the centre, we strive to make the will writing process as transparent as possible.

Contacting us is free. Have a consultation or a home visit with one of our experts and discuss your options with no obligation.

Our experienced legal advisors are on hand to provide you with all the advice you need with writing a Will, guidance on establishing a trust, help with applying for probate, and arranging prepaid funeral plans.

Get in touch

You may want to talk through your options first with our team of legal advisors. Fill out our form and the team will contact you to help you with everything you need to get started.

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