What Paul Danan’s Will Teaches About Protecting Your Children’s Inheritance

If you don’t think having a Will is important, stop reading now.

But if you have children under 18, especially if you’re single, it’s one of the most important things you’ll ever do.

When actor Paul Danan died earlier this year aged 46, he left behind a ten-year-old son.
He was best known for playing Sol Patrick in Hollyoaks. I remember watching him when I was a teenager.

Despite his personal struggles, Paul did one thing that will make a lifelong difference to his child.

He made a Will.

What Paul’s Will Achieved

He chose his own trustees, people he trusted to manage his estate and make decisions about how his son’s inheritance would be used.

He decided his son should inherit at 21, not 18, giving him time to mature and handle money responsibly.

He made personal gifts too: £30,000 to each of his two brothers and £20,000 to his son’s guardian.

After costs and debts, the remainder of his estate (about £438,000) will now be held in trust for his son until age 21.

Those trustees can:
• Use funds for his son’s education, care and wellbeing without court involvement
• Invest what’s left so it keeps growing

If they achieve a steady 5 per cent annual return, that £438,000 could grow to roughly £750,000 by the time his son turns 21 - an increase of over £300,000 simply because a Will and trustees were in place.

It grows every year because it’s protected and managed properly.

What If There Had Been No Will

Without a Will, things would have looked very different.

Paul wasn’t married and wasn’t with his son’s mother. Under intestacy rules, control would usually pass to whoever had parental responsibility, in this case, his son’s mother.

If that person was unwilling or unsuitable, control could pass to Paul’s parents.
And if families couldn’t agree, the estate could end up in a contentious probate dispute, a legal battle over who should administer it.

These disputes can cost anywhere between £20,000 and £100,000, and those fees come straight out of the estate before the child’s share is set aside.

If the family managed it themselves, the money would sit in a statutory trust until the child turns 18 usually earning only 2–3 per cent interest a year.
By 18, £438,000 might grow to about £520,000.

If the court had to step in, the funds would go to the Court Funds Office, earning about 2 per cent interest with 0.5 per cent fees deducted.
By 18, the child might receive around £495,000.

That’s a quarter of a million pounds less than if a Will with trustees had been in place.

A Will Is More Than “Who Gets What”

A Will decides:
• Who is in charge of managing your estate
• How it is managed
• When your beneficiaries inherit

Paul Danan’s decision to make a Will means his son’s inheritance isn’t just protected, it’s actively working and growing every year.

And this isn’t unique to celebrities.
If you’re unmarried, have children, or aren’t with the other parent, the same laws apply to you.

Make Sure Yours Works as Hard as His Did

To create a structure like the one Paul used - a professionally drafted Will with a trust to protect a child’s inheritance - our fees are:

• Single Will: £399
• Will Trust: £400

We’re completely transparent with our prices, as shown on our website.
It would only cost more if there are numerous beneficiaries or complex instructions.

If you’d like to make sure your children are properly protected and your wishes are clear, book your free review today.