Hugh Phelan Solicitor & Notary Public — Douglas, Cork
Wills · Probate · Enduring Power of Attorney · Notarisation & Apostille
📞 021-489-7134 Book Appointment →Trusts are powerful tools in Irish will planning — but they are not always necessary. This guide explains when a trust is the right solution for Cork testators.
What is a Trust in a Will?
A testamentary trust is created by your will and takes effect on your death. Assets are held by trustees and managed for the benefit of beneficiaries — according to the terms you set out in the will.
When a Trust Makes Sense
1. Beneficiaries are Minor Children
You cannot leave significant assets directly to children under 18 in Ireland — a court-controlled trust would apply. Your own testamentary trust allows you to appoint trusted trustees and set your own terms for when the children can access the funds (e.g. at 21 or 25).
2. Vulnerable or Dependent Beneficiaries
If a beneficiary has a disability, addiction issue, or cannot manage finances, a discretionary trust protects them while ensuring they benefit from the estate without risking the assets.
3. Second Marriage / Blended Families
A life interest trust for the family home allows a surviving spouse to live in the property for their lifetime, with the property then passing to children from a first marriage on the spouse's death.
4. Protecting Assets from Creditors
A properly structured trust can protect assets from a beneficiary's creditors — relevant where a beneficiary is in financial difficulty or has business debts.
5. Grandchildren or Future Beneficiaries
Where you want assets to be held until grandchildren reach a specific age, a trust provides the mechanism.
Frequently Asked Questions
What is a testamentary trust in Ireland?
A trust created by your will that takes effect on your death. Assets are held and managed by trustees for beneficiaries according to terms you set out in the will.
Do I need a trust if I have young children in Ireland?
If you have significant assets and young children, a testamentary trust allows you to appoint trusted trustees and control when children can access their inheritance. Without one, court oversight applies.
How much does it cost to set up a trust in a will in Ireland?
Trust provisions add complexity and cost to a will. Hugh Phelan Solicitor provides a quote based on your specific requirements. Call 021-489-7134.
Hugh Phelan Solicitor & Notary Public — Douglas, Cork
Wills · Probate · Enduring Power of Attorney · Notarisation & Apostille
📞 021-489-7134 Book Appointment →