Lifetime Trusts

What is a Lifetime Trust?

A Lifetime Trust (sometimes called a Living Trust or an Inter Vivos Trust) is a trust you create and transfer assets into during your lifetime — as opposed to a Will Trust, which takes effect only on death. For property owners, a Lifetime Trust used in conjunction with a Land Registry transfer can be a powerful tool for protecting your home and wider estate.

A Lifetime Trust is a trust you create and transfer assets into during your lifetime — as opposed to a Will Trust, which takes effect only on death. For property owners, a Lifetime Trust used in conjunction with a Land Registry transfer can be a powerful tool for protecting your home and wider estate.

What are Lifetime Trusts for?

Our key summary

Property in Trust does not need to be taken through the probate process

Reduce Probate Cost

Protects the interest of your beneficiaries, guaranteeing their inheritance.

Protect Beneficiaries

Can provide significant protection against future costs to the estate.

Insulate the Estate

Lifetime Trust FAQ's

Why not just leave my estate via a will?

Wills serve an important purpose, Trusts and wills are often set up alongside one another to ensure a comprehensive planning structure. Wills are not read until you're gone. Trusts are active during your lifetime and provided an array of benefits.

Do Trusts mitigate IHT?

Generally, property Trusts leave you tax neutral. However, specific advice should always be sought prior to any planning decisions.

If I set up a Trust, do my children own the house?

No, quite simply. The Trust owns the house. You control the Trust. You are responsible for its upkeep and day to day running the same as before.

Why not just leave my estate via a will?

Do Trusts mitigate IHT?

Generally, property Trusts leave you tax neutral. However, specific advice should always be sought prior to any planning decisions.

If I set up a Trust, do my children own the house?

No, quite simply. The Trust owns the house. You control the Trust. You are responsible for its upkeep and day to day running the same as before.

"Trusts for property have been used in this country since the medieval period. They have been re-worked and re-modelled over the centuries as the property landscape and their use cases have changed.
They now sit as one of the pillars of the common law legal framework. "

James R - Estate Planning Practitioner

How does a Trust work?

The roles and responsibilities

Settlor places the asset inside the Trust
Trustees manage the Trust and its assets.
Beneficiaries are transferred the assets on death via the Trust.
Beneficiaries are transferred the assets on death via the Trust.
Trust is wound down once assets have been distributed.

Trusts & Care

Does having a Trust reduce care costs?

Potentially.

Intention is Key

There must be suitable reasoning for a Trust to be set up in the first place. This cannot be solely to minimise the impacts of care fees.

Reducing the impact of probate costs and time is a meaningful reason. Protecting your beneficiaries from the impacts of divorce would be another useful feature provided by Trusts.

Medical Condition

If care is likely to be required in the not too distant future and impact your estate, be that through ill health or hereditary conditions it may not be wise to set up a Trust.

Trust planning must be made in advance and must not be due to medical circumstances that would raise the likelihood of care being required.

What does a Lifetime Trust Cost?

Typical Price Ranges

Initial Set Up

£2,500 - £3995

Services levels vary, different providers offer full signing support and registration within the scope of their work.

Find out from your provider before committing to the work.

Registration

£200 - £499

Services levels vary, different providers offer full signing support and registration within the scope of their work.

Find out from your provider before committing to the work.

Ongoing

£0 +

Trusts have administrative expenses and if anything material needs to change within the trust, legal costs can be incurred.

Anniversary charges can impact larger estates. Seek specialist guidance.

Lifetime Trusts

What is a Lifetime Trust?

What are Lifetime Trusts for?

What are Lifetime Trusts for?

Reduce Probate Cost

Protect Beneficiaries

Insulate the Estate

Lifetime Trust FAQ's

"Trusts for property have been used in this country since the medieval period. They have been re-worked and re-modelled over the centuries as the property landscape and their use cases have changed.
They now sit as one of the pillars of the common law legal framework. "

How does a Trust work?

The roles and responsibilities

Settlor places the asset inside the Trust

Trustees manage the Trust and its assets.

Beneficiaries are transferred the assets on death via the Trust.

Beneficiaries are transferred the assets on death via the Trust.

Trust is wound down once assets have been distributed.

Trusts & Care

Does having a Trust reduce care costs?

Potentially.

Intention is Key

Medical Condition

What does a Lifetime Trust Cost?

Typical Price Ranges

Trusts are complex legal arrangements

Seek specialist advice before engaging in any decision making

Speak to an advisor about Lifetime Trusts today

Lifetime Trusts

What is a Lifetime Trust?

What are Lifetime Trusts for?

What are Lifetime Trusts for?

Reduce Probate Cost

Protect Beneficiaries

Insulate the Estate

Lifetime Trust FAQ's

"Trusts for property have been used in this country since the medieval period. They have been re-worked and re-modelled over the centuries as the property landscape and their use cases have changed. They now sit as one of the pillars of the common law legal framework. "

How does a Trust work?

The roles and responsibilities

Settlor places the asset inside the Trust

Trustees manage the Trust and its assets.

Beneficiaries are transferred the assets on death via the Trust.

Beneficiaries are transferred the assets on death via the Trust.

Trust is wound down once assets have been distributed.

Trusts & Care

Does having a Trust reduce care costs?

Potentially.

Intention is Key

Medical Condition

What does a Lifetime Trust Cost?

Typical Price Ranges

Trusts are complex legal arrangements

Seek specialist advice before engaging in any decision making

Speak to an advisor about Lifetime Trusts today

"Trusts for property have been used in this country since the medieval period. They have been re-worked and re-modelled over the centuries as the property landscape and their use cases have changed.
They now sit as one of the pillars of the common law legal framework. "