General Discretionary
Will Trust
Here the Beneficiaries can be a wide range of people but the Testator wants the Trustees to decide who should benefit and when. There may be certain criteria with which a potential Beneficiary must comply before the Trustees can award him/her any benefit (e.g. coming off drugs).
There are no Inheritance Tax advantages to General Discretionary Will Trusts and a General Discretionary Trust set up on death is treated like any other bequest and may be subject to Inheritance Tax at 40%.
It is usual with General Discretionary Will Trusts for the Testator to write a Memorandum of Wishes to his Trustees outlining how they would like them to act. The Memorandum of wishes is not legally binding but serves as a guide as to how they should act.
General Discretionary Will Trusts and Memoranda of Wishes are used in Sharia Law compliant Wills.
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The service I received was outstanding..any questions I had were answered and if I was unsure of anything it was explained to me very clearly. Thank you to Roger Bispham for making the process of completing the Lasting Power of Attorney forms a smooth pleasant experience. Found this company online. Roger has been very professional and helped me with all my enquiries. Would definitely recommend their services. Thanks Roger I found that mr. Bispham was friendly, Mr. Bispham's friendly and informative approach made creating my Will a pleasant experience. His expertise in Lasting Powers of Attorney is evident, and he goes above and beyond for his clients. I highly recommend his services for a stress-free and efficient legal experience. Roger was very professional, and clearly very verse with the process of putting into place Lasting Powers of Attorney. He guided us through the process with precision and was very supportive throughout. As a result the process went smoothly and our LPAs are all successfully in place. Many thanks Roger for all your assistance! Having finally made the decision to arrange my Will I was extremely pleased that after an initial phone call and home visit to the West Midlands my affairs were finally sorted out. I am confident that my estate would pass to my children or grandchildren and would be ring fenced from any of their creditors / debts or claims from an ex-spouse. My estate will only pass to my bloodline. A Will and discretionary Trust was recommended, which came with a Will Clarity and Commentary statements plus a memorandum of wishes to reduce the chances of any potential legal challenges. The process was made easy by simple instruction taking and matters being explained to me every step of the way. I would like to thank Bispham Legal Services for putting my mind at rest. 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I am very pleased with the service he provided and I will use him again A professional approach to the service I enquired about and a satisfactory conclusion regarding my needs. "I first met and spoke with Roger when he was assisting my mother in organising her will. At 32 I considered myself to be too young to organise my will and funeral arrangements yet Roger explained the importance of this at any age. I gleaned a wealth of information from Roger and was advised to think through my options so there was no pressure to sign up for anything. Roger was very friendly and approachable, making a morbid discussion into something positive that has given me great peace of mind. I highly recommend Roger from Bispham Legal Services". Making a will and power of attorney was stress free as everything was explained and clarified in easy to understand language. I have known Roger Bispham for 15 years. He went out of his way to provide an exceptional service for my mum when it came to preparing her Will and Lasting Power of Attorney documents. Roger has a vast amount of experience and knowledge. I also appreciate his level of understanding and care. I highly recommend his services.
And very informative.
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