A guide to bloodline wills

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Writing a will is essential for many reasons – you can set out personal funeral arrangements, provide for your family, protect your assets, and ensure that everything you leave behind will be inherited by the right people when you pass away, in-line with your final wishes.

If you pass away without a will in place (known as dying intestate), your estate would be divided among family members in line with the rules of intestacy, rather than your own personal preferences, which could lead to family disputes and lengthy legal proceedings. 

While many people think that their assets are protected once they’ve written a basic will, this isn’t always the case if it hasn’t been done diligently. Even if you have set up a basic will, problems can still arise, which could result in your estate being inherited by the wrong people. This only reiterates the importance of writing a will with a legal and professional will-writing service. 

At Wills.Services, we offer a solution to this potential issue in the shape of a bloodline will, which provides you with the opportunity to ensure that your assets stay within your blood family. This type of will is especially convenient for protecting your legacy from a son-in-law or daughter-in-law that may have bad intentions (or anyone else that isn’t related to you by blood). 

In this complete guide, we explain what bloodline wills & trusts in the UK are, outline the circumstances under which you may need one, and show you how to get started with yours through Wills.Services.

What is a bloodline will?

Bloodline wills are similar to regular wills in what they offer, but they also contain a special type of trust. This trust enables you to make sure that all (or some of) the possessions left behind in the event of your death are protected and can only be inherited by your descendants and your children's’. 

The beneficiaries are always your children, their children and so on, which guarantees that the legacy you leave behind is safe in the hands of your blood relatives. 

Leaving everything to your children in a basic will does not always provide an adequate level of protection and there are potential complications that could occur later down the line. Simply naming your children as the beneficiaries in a standard will does not necessarily mean that it will be passed down to your grandchildren and their children thereafter when the time comes. 

In order to make absolutely certain that your estate (whether it compiles of your money, family house, other property, businesses or family heirlooms) is kept in the family, you must set up a trust within your will. 

What is a bloodline trust? 

Firstly, it’s worth noting that a trust is defined as a legal arrangement whereby someone else (the trustee) manages the assets (the trust property) on your behalf for the benefit of another person or other people (the beneficiaries). 

Depending on the type of trust, some people use them to avoid a hefty inheritance tax bill, while others use them to ensure that their assets will be passed on in a way that represents their exact wishes (or a combination of both of those reasons). 

A bloodline trust, however, is a specific type of trust which has the purpose of guaranteeing that the property within it (money and/or investments, for example) are kept in the family (blood-only). Crucially, it protects your children or grandchildren’s inheritance against any third-parties, including the likes of ex-partners. If it helps, think of it as a type of family protection trust, that will keep your possessions in the bloodline for generations to come.

The trust property can only be used for the benefit of your children and grandchildren’s health, education, maintenance and support, meaning that the contents of the trust are safe from anyone that is not considered a descendant. 

Despite offering a great level of protection, many people overlook bloodline trusts until it’s too late, but we strongly advise that you consider writing one here at Wills.Services, especially under certain circumstances (listed below). 

Sign up to Wills.Services today to start writing your online will, or for more information and bloodline planning advice, be sure to complete our short contact form and we’ll be in touch at a time that suits you. 

What happens if you don’t have a bloodline trust in the UK?

Setting up this type of trust is a precaution that protects against potential issues in your family’s long-term future. You will never see the benefits of it yourself, but you will be rewarded with the invaluable peace of mind in knowing that your legacy is guaranteed to be kept in the family.

If you don’t set up a bloodline trust or will, your estate (or at least part of it) could be inherited by people outside of your family, including: 

  • Your children’s ex-partners (your former sons- or daughters-in-law)
  • The step-parents of your grandchildren (if your child re-marries)
  • The grandchildren of someone else
  • The Government, HMRC or your local authority

Divorces are very common and modern families can often be complicated, so it is important that you plan your will with diligence and put the right precautions in place to protect the inheritance of your children and grandchildren. 

Find out how to set up a bloodline trust today by signing up to Wills.Services to get started right away. 

When should you set up a bloodline trust?

The majority of testators (the name for people who write a will) set up a bloodline trust or will as a safety net for their children and grandchildren, protecting them against any third-parties from outside the family that may try to get their hands on the estate, namely their ex-partners. 

Due to the complexity of modern families and the unfortunate possibility of divorce, putting plans in place to protect your blood-relatives is highly advisable. 

You should think about setting up a bloodline will or trust as a precaution if your son- or daughter-in-law: 

  • Has a bad history of money management and often falls into debt.
  • Has previously lost numerous jobs.
  • Is in an insecure position.
  • Is prone to addiction, whether it’s alcoholism or drug use.
  • Mistreats your child or grandchildren. 
  • Has a history of being unfaithful.
  • Was married previously or has children from another relationship.

Of course, each person’s situation differs to the next, so if you’re unsure of which type of will or trust you need, get in touch and our team will be happy to help you make the smartest decision for yourself and your family based on your circumstance. 

How much does it cost to set up a bloodline trust?

Here at Wills.Services, a single, basic will starts from just £29.99, while a mirror will is priced at £49.99 (both limited time offers), which you’ll find is far more affordable than the alternatives offered by companies like Slater + Gordon and Co-op Legal Services

The cost of your will depends on the value of your estate, its contents and the complexity of the will, including the types of trusts included. 

How much does a bloodline will cost? Due to the fact that each will is unique and every individual has different needs, the cost of a will varies. As mentioned, it depends on the size of the estate and the contents of the will, but you can rest assured that we will remain transparent about our fees throughout the whole process. 

Typically, bloodline wills tend to cost more than basic wills due to their complexity, but we’ll be sure to present you with the most affordable deals for your situation. See our full price guide for more information.

Case study – How to use a bloodline trust

This type of trust is essentially a precaution for an issue that may occur in the distant future, it can be difficult to realise how they could benefit your family.

To help you see how they can be useful in real-life situations, here’s an example:  

Pete and Moira are in their late-60s and decide to set up a bloodline trust through Wills.Services to protect the inheritance that they plan on leaving to their daughter (Louise) and granddaughter (Scarlet), as Louise has made them aware that her husband (Damien) has been unfaithful in the past. Ten years later, Pete and Moira have both passed away and Louise and Damien go through a divorce. During divorce proceedings, Louise’s brother temporarily replaces her as the trustee until the process is complete. When the divorce is finalised, Louise is reinstated as the trustee and the trust property remains safely within the bloodline, rather than being taken by Louise’s ex-husband.

If you don’t have this type of trust in place, you risk future ex-partners of your descendants getting their hands on the inheritance that you intended to be passed down to your children and grandchildren. 

The pros and cons of bloodline trusts

We can reassure you that the very few potential disadvantages of bloodline trusts are far outweighed by the advantages. 

The key benefit is that it provides an invaluable safety net for your children and grandchildren, so that the legacy you leave to them remains only with your descendants and no third-parties. 

Other advantages include: 

  • The assets within the trust are protected and, by law, will be kept in the family.
  • You are rewarded with peace of mind. 
  • You know exactly how the inheritance you leave behind will be used and who the beneficiaries are. 
  • Only the blood-relatives named will have access to the trust property. 
  • Your children’s current or ex-partners will not be able to benefit from the trust. 
  • Upon your child’s death, the trust ends and the funds that remain can only be inherited by their descendants. 
  • Only you can revoke the trust, but you are able to do so at any time during your life. 

One potential disadvantage of bloodline trusts is that the trust property can only be used for very specific reasons, including the health, education, maintenance and/or support of the beneficiaries. While this may be thought of as a benefit for some (perhaps those who appreciate knowing exactly how their assets will be used), others may feel that the restrictions do not suit their needs  or their family, and would rather go down a different inheritance-planning route. 

Is it possible to make bloodline wills in the UK without a legal advisor?

It is entirely possible to put plans in place without professional help by using a bloodline will template, but there are many risks and potential pitfalls involved when doing so. 

One of the main risks is that it is very easy to make mistakes, particularly in terms of the legal wording and knowing what to include in a will. If you make an error, you put your entire estate in jeopardy as the will could become invalid upon your death, meaning that your wishes will not be considered and the inheritance you leave behind will be distributed in line with the rules of intestacy.

The safest and most reliable way to ensure that your estate is protected is to write a will and set up a trust by using our simple online service to outline your wishes and our team will be in contact to talk through your requirements. To get started, simply sign up today!

Making a bloodline will and setting up a trust

Writing a bloodline will is a perfect way of ensuring that the inheritance and legacy you leave behind is kept in the family, away from other, perhaps untrustworthy, third-parties. 

It guarantees that your assets are protected and provides a safety net for your descendants if ever they should need it, and what’s more, we can do all the hard work for you here at Wills.Services. 

To begin putting your family protection plan in place for the future, all you have to do is register with Wills.Services today. If you would like more information or a free, no-obligation chat about your options, be sure to get in touch with us by completing our straightforward contact form and we’ll give you a call at a time that suits you.

 

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