Technical Videos
Pilot Trusts vs Will Trusts
‘This video will explains the difference between Pilot Trusts and Will Trusts.
If you have any further questions, please contact us on:
01926 514 390 Ext 9140
or email us on: estateplanningteam@ctt-group.co.uk
The key points are as follows:
- There are two types of trusts: Pilot Trusts and Will Trusts.
- Will Trusts are drafted within the Will.
- Pilot Trusts are established independently of the Will / outside the Will.
- Both types of trusts can be used in order to achieve exactly the same outcomes.
- The perpetuity period of a Will Trust starts on the death of the testator.
- The perpetuity period of a Pilot Trust starts as soon as the trust is signed.
- Will Trusts become a public document as soon as the Grant of Probate / Letter of Administration is granted by the Probate Court.
- Pilot Trusts do not become a public document after the probate process, so the details of the Trustees, Potential Beneficiaries and terms of the trust are not freely available.
- Pilot Trusts can be altered by further deeds.
- In order to alter a Will Trust, a new Will needs to be drafted.
- You can use multiple of each type of trust.
