Trustees of a discretionary trust have the ability to use the capital and income from the trust on a discretionary basis. The beneficiaries of the trust are decided by you but the distribution of the fund is left to the Trustees. Discretionary Trusts are particularly useful when leaving funds to vulnerable or disabled beneficiaries.
If you have children under 18 then any provision that you make for them will be placed in a Child Trust, which will be used to provide them with financial support. The Trustees manage the fund on behalf of your children and decide how the funds are used.
Our fee is £295 for this type of Trust but can be reduced by up to 50% if taken with one of our Estate Protection packages.