Using Trusts in Your Will: Protecting Assets for Children and Vulnerable Beneficiaries

Introduction
When people think about making a Will, they often focus on who should inherit their assets. But in some situations, how those assets are passed on is just as important. This is where trusts can play a valuable role.

Trusts allow you to place assets under the control of trustees, who manage them on behalf of beneficiaries. They are commonly used when children are involved, when beneficiaries may not be ready to manage money themselves, or when additional protection is needed. This blog explains what trusts are, when they’re useful, and how they can help protect your estate.

What Is a Trust in a Will

A trust is a legal arrangement where assets are held by trustees for the benefit of one or more beneficiaries. Instead of assets passing directly to someone, they are managed according to rules you set out in your Will.

Trusts are often used to control when and how assets are accessed. For example, you may want funds released at certain ages or used only for specific purposes such as education or living costs.

Trusts can apply to money, property, investments, or other valuable assets.

Why Trusts Are Commonly Used

Protecting children
Children cannot legally inherit assets outright. A trust ensures funds are managed responsibly until they reach adulthood or a chosen age.

Supporting vulnerable beneficiaries
Trusts are often used where a beneficiary has a disability, addiction issues, or difficulty managing finances.

Controlling access to inheritance
You can decide when beneficiaries receive funds rather than leaving everything at once.

Reducing risk of misuse
Assets held in trust are less likely to be spent quickly or irresponsibly.

Providing long-term security
Trusts can provide ongoing financial support rather than a one-off inheritance.

Types of Trusts Commonly Used in Wills

Bare trust
Assets are held until a beneficiary reaches a specific age, at which point they gain full control.

Discretionary trust
Trustees decide how and when assets are distributed, giving flexibility where circumstances may change.

Life interest trust
One person benefits from the trust during their lifetime, with assets passing to others later.

Each type serves a different purpose and should be chosen carefully based on your goals and family situation.

Who Should Be a Trustee

Trustees are responsible for managing trust assets and following the rules you set out in your Will. They should be:

• Trustworthy and responsible

• Comfortable managing money or assets

• Able to act impartially

• Willing to take on long-term responsibility

Many people appoint a mix of family members and professionals to balance personal understanding with technical knowledge.

Common Mistakes When Using Trusts

Choosing unsuitable trustees
Trustees who lack time, skill, or neutrality can cause delays or disputes.

Being too vague
Unclear instructions make trusts difficult to administer and can lead to disagreements.

Not reviewing trusts over time
As children grow or circumstances change, trusts may need updating.

Assuming trusts are only for the wealthy
Trusts can be useful for modest estates, especially where protection matters more than tax planning.

Failing to get advice
Poorly drafted trusts can cause confusion or unintended consequences.

Practical Example
Steven and Laura had two young children and wanted to ensure their inheritance was protected until they were financially responsible. Instead of leaving assets directly to the children, they created a discretionary trust within their Will. They appointed Steven’s sister and a professional adviser as trustees.

When Steven later passed away, the trust ensured funds were used for education and living costs, with flexibility to respond to changing needs. The children gained access gradually, rather than all at once.

To understand how the right people can manage arrangements like this, see our guide on How to Choose the Right Executor for Your Will.

Conclusion
Trusts can add an extra layer of protection and control to your Will, especially where children or vulnerable beneficiaries are involved. They allow you to think beyond simple inheritance and focus on long-term security and responsible management.

While trusts are not necessary for every Will, they can be invaluable in the right circumstances when drafted carefully and reviewed regularly.

Next step: If you’d like clear, step-by-step guidance on creating your own Will, read our free guide How to Make Your Will with Confidence.