What Are The 4 Main Types of Will?
When it comes to estate planning, having a legally valid Will is one of the most important steps you can take to protect your loved ones, ensure your wishes are carried out, and avoid unnecessary complications after you pass away.
At Willow Tree Financial Services, we know conversations about Wills aren’t always easy—but they’re incredibly important. Choosing the right type of Will depends on your life circumstances, your family structure, and how you’d like your assets to be distributed.
All Wills outline how you’d like your wishes to be carried out after you die, name the people or charities you’d like to benefit from your estate, who you’d like to look after your children and who you would want as trustee.
Here, we’ll explore the four most common types of Wills, helping you understand the differences and when each one might be appropriate.
1. Basic Sole Will
A Basic Sole Will is ideal for individuals who are not in a relationship, or who have distinct wishes that differ from a partner or spouse. This type of Will outlines your preferences for how your estate should be handled after you die. You’ll be able to:
- Appoint an executor to carry out your wishes
- Name beneficiaries (including charities, friends, or family)
- Designate a guardian for your children
- Assign trustees if needed
This is a simple, straightforward option that ensures your voice is heard—especially important if you have specific ideas about how your assets should be distributed, or you want to provide for someone outside your immediate family.
If you have different wishes to your partner/spouse, then this is where a Base Sole Will might be an option too.
2. Basic Mirror Wills
Mirror Wills are two Wills created for a couple (usually spouses or civil partners) that reflect each other’s wishes. They’re popular among couples who want their estate to pass to the other person first, and then to children or other beneficiaries when the second person dies.
Typical features of Mirror Wills:
- Each partner leaves everything to the other
- After the second death, the estate passes to named beneficiaries (often children)
- No inheritance tax is paid on the first death if the estate is left to a spouse
However, there is a potential drawback. Mirror Wills are not legally binding on each other—either partner can change their Will at any time without the other being aware. This can be risky, particularly if one partner remarries or if you have children from a previous relationship.
If your family structure is more complex, or you want to protect certain beneficiaries, it may be worth exploring trust-based options instead.
3. Discretionary Will Trust
A Discretionary Will Trust gives your trustees the flexibility to decide how and when your assets are distributed among your chosen beneficiaries. This type of Will is ideal if:
- You want to provide for beneficiaries in different ways
- Some beneficiaries are vulnerable or financially inexperienced
- Circumstances may change over time
The key feature of a Discretionary Will Trust is the discretion it grants your trustees. You outline who the potential beneficiaries are, but the trustees decide who receives what, when, and how. For this reason, it’s crucial to choose trustees who are financially savvy, impartial, and trustworthy, who you can trust to make the best decisions for your beneficiaries.
This type of Will can also be useful for inheritance tax planning and protecting assets from divorce or bankruptcy claims.
4. Property Will Trust (or Life Interest Trust)
A Property Will Trust is designed to protect your share of the family home, especially in second marriages or blended families. It allows you to ‘ring-fence’ your portion of the property, so that it eventually passes to your chosen beneficiaries, while still allowing a surviving partner to live in the home.
How it works:
- Your share of the property is placed into a trust on your death
- Your spouse or partner can continue to live in the property for the rest of their life
- When they pass away, your share of the home is passed on to your named beneficiaries (e.g., children from a previous relationship)
This type of Will can help protect against:
- Sideways disinheritance (e.g., if a partner remarries and changes their Will)
- Care home fees eroding your legacy
- Family disputes over who should inherit the property
Choosing your Will can feel overwhelming. You're Not Alone
Choosing the right type of Will is a deeply personal decision—and it can feel overwhelming. At Willow Tree Financial Services, we take the time to listen to your situation, talk through your options clearly, and help you choose a Will that aligns with your life and values.
Will Writing & Lasting Powers of Attorney are not part of the Quilter Financial Planning offering and are offered on a referral basis.
We believe in calm, confident planning that brings peace of mind. Whether your circumstances are simple or more complex, we’re here to guide you every step of the way.
Call us on 01323 436680, get in touch here, or book an appointment here to get started.
At Willow Tree Financial Services, we offer personalised advice on Financial Planning, Mortgages, Investments, Pensions, Personal & Business Protection, and Wills, Trusts & Estate Planning — all tailored to your individual goals and circumstances.
We’re based in Polegate, East Sussex, and support clients across the South East and beyond.
Stay in touch with us on social media:
http://facebook.com/willowtreefinancialservices
linkedin.com/in/rachael-panteney
http://instagram.com/willowtreefinancialservices.uk
Plus, visit our YouTube channel where you can lots of helpful financial advice videos:
http://www.youtube.com/@willowtreefinancialservices
The Financial Conduct Authority do not regulate wills, trusts, estate planning and lasting power of attorney. Will Writing & Lasting Powers of Attorney are not part of the Quilter Financial Planning offering and are offered on a referral basis. Quilter Financial Planning accept no responsibility for these aspects of our business.
