WILLS & PROTECTIVE TRUST PLANNING
Will my children eventually inherit?
You've left everything to your spouse, with your children named next in your Will. That means they'll inherit when your spouse dies too — doesn't it?
A common misunderstanding
Leaving everything to your spouse doesn't necessarily protect your children's inheritance.
Many couples believe their Wills automatically provide for each other first and their children afterwards. But if an inheritance passes outright, what happens later may be outside the first person's control.
What does “my children as substitute beneficiaries” actually mean?
Imagine a typical Will leaving the estate to a husband or wife, with the children named as substitutes if that spouse dies first. The children aren't waiting in a queue to inherit after the surviving spouse. They're named as an alternative if the original gift cannot take effect on the first person's death.
If the surviving spouse inherits outright, those assets become theirs. They can spend them, give them away or leave what remains under their own Will. The first person's Will does not continue to control that inheritance.
First death
The spouse inherits
John leaves his estate to Mary, with their children named as substitute beneficiaries. Mary survives John and receives his estate outright.
Later on
Mary's own arrangements apply
What remains of that inheritance is now part of Mary's assets. When she dies, her own Will — or the intestacy rules if she has no valid Will — determines who inherits.
Being named as a substitute beneficiary is not the same as having an inheritance protected for the next generation.
How could the inheritance end up elsewhere?
There doesn't have to be a family dispute or an intention to disinherit anyone. Circumstances can simply change after the first death.
A new relationship
A surviving spouse may remarry or form a new civil partnership. In England and Wales, this will usually revoke an earlier Will unless an exception applies.
A different Will
The surviving spouse may change their Will, favour different beneficiaries or make provision for a new partner or family.
Changing circumstances
Assets inherited outright may be spent, given away or affected by events during the surviving spouse's lifetime, reducing what is ultimately left.
This is sometimes called sideways disinheritance: wealth that was intended to reach children or grandchildren eventually passes outside the original family line.
Can a Will provide for your spouse and protect your children?
Yes. Suitable protective trust provisions can help achieve both aims. Rather than leaving every asset outright, a Will can be structured so that some inheritance is held within a trust after the first death.
For example, a properly arranged property protection trust can allow a surviving spouse to continue living in the family home while protecting the deceased's share for the children who are intended to inherit it later. Other arrangements, including discretionary trusts, can give chosen trustees flexibility to support family members while protecting assets for future generations.
Crucially, this doesn't necessarily mean handing control to strangers. The surviving spouse and adult children can often be considered as trustees, alongside other trusted individuals where appropriate. The exact structure depends on the family's circumstances and what protection is wanted.
How a jointly owned home is held also matters. This is something I consider as part of the Will-planning discussion rather than leaving clients to work through the legal arrangements themselves.
A QUESTION WORTH ASKING
Does your Will do what you think it does?
It's perfectly reasonable to want your husband, wife or partner to be financially secure after your death. But you may also want reassurance that the inheritance you've built will ultimately benefit your children and grandchildren.
That is the difference between simply naming who inherits first and considering how family wealth can be protected afterwards. I can explain the options during a complimentary, one-to-one estate planning consultation.
General information for England and Wales. Individual Wills, trust provisions and property ownership arrangements determine the outcome in each case.