Life Interest Trust Will (IPDI) — Editor

Fill in the details below to generate your life interest trust will. England & Wales only.

👤 Your Details (the person making the will)

⚖️ Executors & Trustees ?The people who administer your estate and manage the life interest trust. Choose people you trust. Two are recommended. They can include your life tenant and/or your beneficiaries.

These people prove the will and act as trustees of the life interest trust. Appoint at least one; two or more is recommended.

🕊️ Funeral Wishes (optional)

🧒 Guardians for Minor Children ?Only relevant if you have children under 18. A guardian cares for your minor children if there is no surviving parent with parental responsibility.

🎁 Specific Gifts (optional) ?Particular items or sums of money left to named people, given before the rest of your estate is dealt with.

🏠 The Life Interest Trust Property ?The asset (usually your share of the family home) placed into the life interest trust on your death. Your share is ring-fenced for your chosen final beneficiaries while your life tenant lives there for life.

Your share that passes into the trust under this will.
Leave blank to place only your property share into the trust.

💚 Life Tenant (the survivor) ?The person who has the right to live in the property and/or receive income from the trust for the rest of their life — usually your spouse or partner. They cannot redirect the capital.

Where the life tenant is your spouse or civil partner, the spousal exemption usually applies on the first death.

👨‍👩‍👧‍👦 Final Beneficiaries (remaindermen) ?The people who receive the trust capital after the life tenant dies — usually your children, including children from a previous relationship. Where there is more than one, they share equally unless you say otherwise.

If a beneficiary dies before the life tenant leaving children of their own, their share passes to those children equally.

📜 The Rest of Your Estate (residue) ?Everything not placed in the life interest trust and not given as a specific gift — for example bank accounts, possessions and any other assets.

💼 Professional Trustee Charging ?If any of your trustees acts in a professional capacity (e.g. a solicitor or accountant), a charging clause lets them be paid reasonable fees. Leave as "No" if all trustees are family or friends acting unpaid.

✍️ Additional Provisions (optional)

Your Will is Ready

Review your life interest trust will below

Export to Word for bespoke situations where additional customisation or manual editing is required beyond the standard template.

⚠️ Before you sign — read this

  • Sever the joint tenancy first. A life interest trust only works if you are able to leave your share of the property through your will. If you own the property as joint tenants, the law passes your share straight to the other owner when you die — your will has no say — so the trust receives nothing. The property must be held as tenants in common. If it is not, sever the joint tenancy before or alongside this will — see our Notice of Severance of Joint Tenancy.
  • Two witnesses, present together. Sign and date your will in the presence of two adult witnesses who are both present at the same time, and who then each sign in your presence (Wills Act 1837 s.9).
  • Witnesses must not benefit. A witness — or the husband, wife or civil partner of a witness — must not be a beneficiary, or that person loses their gift (Wills Act 1837 s.15). Your life tenant and final beneficiaries must not act as witnesses.
  • Tax is deferred, not removed. On the second death the trust assets are treated as part of the life tenant's estate for inheritance tax. Consider a solicitor or estate planner for high-value or complex estates, or where the £2 million RNRB taper may apply.
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