Will: all to husband, wife or partner, gift over to discretionary trust for children
This will can be used as a “Two year discretionary trust” will
for the purposes of IHT. Gifts to anyone, as required. All to
spouse absolutely provided she survives. Otherwise gift
over by creation of discretionary trust for discretionary
beneficiaries. Full trust provisions with wide powers to
trustees. Cash can be used in any way - for example, to pay
guardians or direct to children for education and
maintenance. Guardians may use money generally. No
specific obligation to any one beneficiary. Suitable for: young
parents to cover unexpected accident;
Older parents; Anyone in a position to use the two year
flexibility
About this document
This will document allows the testator to give specific gifts or personality or real estate to anyone. The main estate passes to the spouse or life partner. If the spouse does not out live the testator, then a discretionary trust is created for the purposes of inheritance tax. The testator chooses the objects (potential beneficiaries) of the discretionary trust. It provides for wide powers to be given to the trustees, so that the trust fund can be used in almost any way, for example, to pay guardians or directly to the maintenance of the children, or for the children’s advancement. This will document preserves flexibility in the form of a discretionary trust. It is therefore most suited to young parents, to cover an unexpected accident, or to older parents so they can benefit from the flexible powers.
The Net Lawman wills are suitable for most situations. If the will you need is not here, we can draw a will to your precise instructions for a very reasonable fee.
In these descriptions: "remainder man" means the person entitled to capital and any accumulated income after the death of a person with a life interest (a tenant for life).
Application
and features
Comprehensive templates - delete what you do not need
Inclusion of sensible administrative provisions
Use of plain English
Comprehensive explanatory notes
Contents
Details of the testator
Details of executors and trustees
Specified gifts of money
Specified gifts of property (personality or real estate)
Entire residue of estate to pass to surviving spouse
Trust for child guardians
Trust for children
Provision for professional trustees or executors to charge a reasonable fee for their services
Trust fund management
Trustees general powers
Minor beneficiaries
Relationship with beneficiaries
Funeral wishes
Example letter of intent
Extensive notes to guide you
Word
Count (approximate):
Document: 2110
words
Explanatory notes:
2275
words
Draftsman
This document is drawn and maintained by Net Lawman. It is real law in plain English.
