The following Wills & Probate practice note provides comprehensive and up to date legal information covering:
Many Wills are fairly simplistic, merely dealing (for example) with a gift of the estate after the payment of debts to a spouse or children absolutely with a variation to include legacies. In such circumstances, there will be no continuing trust after the administration of the estate is complete so there will be little need to include extra powers for the trustees over and above those provided by law in the Trustee Act 2000 (TrA 2000) and other statutes (although it may not always be possible to predict whether or not a trust will arise).
However, sometimes a continuing trust is appropriate, for example where minor beneficiaries are involved. A commonly encountered Will trust scenario is where there is a gift to the surviving spouse but if the spouse does not survive the testator the estate will pass to surviving issue either immediately or at a chosen age. If the children are minors or have not reached the specified age for the gift to vest absolutely, trust provisions will be required to ensure that the assets are appropriately managed.
The testator will need to consider, with advice from the practitioner, the most appropriate form of Will trust for their circumstances.
The appropriate Will trust for the testator will depend on a number of factors including their personal and family circumstances and value and nature of their
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