Trust Wills — Costs, Types and How They Work
How much does a trust will cost? What types of trust can be included in a will? Who owns the property? This guide answers the most common questions about trust wills in the UK.
Trust Will Costs at a Glance
All fees are indicative and confirmed in writing before any work begins. Call 01244 757352 for a no-obligation quote.
Types of Trust Used in Wills
Different types of trust serve different purposes. Here are the most common trusts used in wills in England and Wales.
Life Interest Trust (Property Trust Will)
The most common trust used in wills. Allows a surviving spouse to live in the property for life, while protecting the deceased's share for the children. Particularly useful for blended families and care fee planning.
Common Uses
- Protecting a share of the family home
- Blended family protection
- Care fee planning
- Inheritance tax planning
Typical Cost: From £600–£1,200 per will (inc. VAT)
Discretionary Trust
A flexible trust where the trustees have discretion over how and when to distribute assets to a class of beneficiaries. Useful for inheritance tax planning, protecting vulnerable beneficiaries, and providing flexibility for future circumstances.
Common Uses
- Inheritance tax planning
- Protecting vulnerable beneficiaries
- Flexibility for unknown future needs
- Business succession
Typical Cost: From £800–£1,500 per will (inc. VAT)
Bare Trust
The simplest form of trust — the beneficiary has an absolute right to the assets. Often used to hold assets for minor children until they reach 18.
Common Uses
- Holding assets for children under 18
- Simple asset protection
- Straightforward estate planning
Typical Cost: From £400–£800 per will (inc. VAT)
Protective Property Trust
A type of life interest trust specifically designed to protect a share of the family home from being used to pay care home fees. The surviving spouse retains the right to live in the property, but the deceased's share is held in trust.
Common Uses
- Care fee planning
- Protecting the family home
- Ensuring children inherit the property
Typical Cost: From £600–£1,200 per will (inc. VAT)
STEP-Qualified Trust Specialists
Our team includes Darren Steele, a STEP member since 2011 with over 25 years of experience in wills, trusts, and estate planning. STEP (Society of Trust and Estate Practitioners) is the global professional body for trust and estate practitioners — membership requires rigorous examination and ongoing professional development.
Find out more about our trusts service →Frequently Asked Questions
How much does a trust will cost in the UK?
The cost of a trust will in the UK depends on the type of trust and the complexity of the will. A straightforward life interest trust will typically costs £600–£1,200 per will (including VAT). A discretionary trust will is typically £800–£1,500. These are indicative figures — we confirm costs in writing before any work begins. Contact us on 01244 757352 for a no-obligation quote.
How much does a life interest trust cost?
A life interest trust will (also called a property trust will) typically costs £600–£1,200 per will including VAT, depending on complexity. If you and your partner are both making mirror wills with life interest trusts, the combined cost is typically £1,200–£2,400. We always confirm costs in writing before any work begins.
Who owns the property in a trust in the UK?
In a trust, the legal ownership of the property is held by the trustees. The beneficial ownership — the right to benefit from the property — belongs to the beneficiaries. So in a life interest trust, the trustees hold the legal title to the property, the life tenant (usually the surviving spouse) has the right to live in it or receive income from it, and the remainder beneficiaries (usually the children) have the right to the capital when the life interest ends.
Does a trustee own the property?
A trustee holds the legal title to the trust property — but they do not own it beneficially. They hold it on behalf of the beneficiaries. A trustee cannot use trust property for their own benefit (unless they are also a beneficiary). Their role is to manage the property in accordance with the terms of the trust and in the best interests of the beneficiaries.
Can property left in trust be sold after death?
It depends on the type of trust. In a life interest trust, the trustees can sell the property — but they must reinvest the proceeds for the benefit of the life tenant and the remainder beneficiaries. The life tenant's right to occupy or receive income from the property continues. In a discretionary trust, the trustees have more flexibility and can sell and reinvest assets at their discretion.
What is a trustee in a will?
A trustee is the person (or persons) appointed to manage the trust created by the will. They hold the legal title to the trust assets and are responsible for managing them in accordance with the terms of the trust and in the best interests of the beneficiaries. Trustees have significant legal duties — including duties of care, loyalty, and impartiality. We recommend appointing at least two trustees.
Can a trustee be a beneficiary of a will?
Yes — a trustee can also be a beneficiary of the will or the trust. This is very common in practice. For example, in a life interest trust, the surviving spouse is often both the life tenant (beneficiary) and one of the trustees. There is no legal prohibition on this, provided the trustee acts in the interests of all beneficiaries and not just their own.
What are the benefits of trusts in estate planning?
Trusts offer several benefits in estate planning: (1) protecting assets from care home fees; (2) providing for a surviving spouse while protecting children's inheritance; (3) inheritance tax planning; (4) protecting vulnerable or disabled beneficiaries; (5) providing flexibility for future circumstances; (6) protecting assets from a beneficiary's creditors or divorce. The right type of trust depends on your individual circumstances — we advise on the most appropriate approach.
What are the tax implications of winding up a discretionary trust?
Winding up a discretionary trust can trigger inheritance tax charges — specifically, an exit charge when assets leave the trust. The rate depends on how long the trust has been in existence and the value of the assets. There may also be capital gains tax implications if assets have increased in value. We advise on the tax implications of winding up a trust before any action is taken.
Do I need a solicitor to set up a trust in a will?
We strongly recommend using a solicitor to set up a trust in a will. Trusts are complex legal structures with significant tax and legal implications. A poorly drafted trust can fail to achieve its intended purpose, create unexpected tax liabilities, or cause disputes between beneficiaries. At PDA Law, our STEP-qualified team specialises in trust drafting and administration.
Speak to a wills and estates solicitor today. Sensitive, professional advice — costs explained clearly before any work begins.
No obligation — talk through your options first. Chester, Cheshire & North Wales.
Get a Quote for a Trust Will
We confirm costs in writing before any work begins. No obligation to proceed after an initial discussion. Our STEP-qualified team will advise on the most appropriate trust structure for your circumstances.