Many people prefer not to think about what will happen on their death. But failure to make proper plans can leave behind a mess that has to be sorted out by our nearest and dearest at great expense, during a time when they are emotionally vulnerable.

Making a will is one way that individuals can put their affairs in order. Under this arrangement the executors named in the will apply for a grant of probate, take possession of the assets of the deceased and then distribute those assets according to the terms of the will. While this is a perfectly acceptable arrangement, it can result in high administration costs (often around 4% of the total value of the estate), long time delays (normally at least one year, even for a simple estate) and very often a large tax bill.

The only real alternative to a will is to set up a trust structure during lifetime. With careful planning this can eradicate delays, administration costs and taxes, as well as giving other benefits. For these reasons the use of trusts is increasing dramatically.