How a ‘Life Interest Trust Will’ Can Protect Your Family
At Belcher Addison, we understand how important it is for families to feel secure about what happens after they’re gone. For many people, that means making sure their children or beneficiaries are looked after, while also ensuring that a husband, wife, or long-term partner is still supported.
A life interest trust is one way of doing just that. It’s a simple, effective, and inexpensive option that can help protect your loved ones and your assets.
What Is a Life Interest Trust?
A life interest trust is something you include in your will. It allows you to say:
“I want my partner to benefit from this part of my estate while they’re alive, but when they’ve passed on, I want it to go to my children.”
In practical terms, it usually means your partner can continue living in your home or receive income from your savings or investments, but the assets are protected for your children or other chosen beneficiaries.
Why Might You Want One?
Families come in all shapes and sizes these days. Whether you have been married before, have stepchildren, or just want to make sure your loved ones are looked after in the long run, a life interest trust can help bring peace of mind.
Here are a few situations where a life interest trust can make sense:
You have children from a previous relationship but want your current partner to be secure after you’ve gone.
You’re worried about your partner remarrying or changing their will, which might mean your children lose out later.
You own a house together and want to make sure your partner can live there for life but still pass your share to your loved ones eventually.
You’re thinking about future care costs and want to protect part of the estate from being used to pay care home fees.
The Benefits
Ensures your partner safe and supported after you're gone.
Makes sure your children or beneficiaries inherit your assets.
Helps protect the family home from being used up by care fees.
Keeps you in control of who benefits from your estate.
Do We Need One?
Not everyone needs a life interest trust but if you’re in a second marriage, have children from different relationships, or want to make sure your partner is looked after without risking your loved ones’ inheritance, it’s definitely worth considering.
At Belcher Addison, we take the time to get to know you and your family’s needs. We’ll explain your options clearly and help you put a plan in place that gives you peace of mind.
We know that thinking about wills and trusts isn’t always easy, but it can make a big difference to your family later.
If you’d like to talk through your options in plain English, we’re here to help. Pop into our offices, email us enquiries@belcheraddison.co.uk or give us a call to book a friendly consultation.