A comprehensive description of magnetically controlled transformers is presented in this paper to asses their potential in isolated and resonant power converters. These converters benefit from implementing variable magnetics as the soft switching zones and voltage operating ranges are extended, along with fixed or quasi-fixed frequency operation. To represent the variation of the transformer's equivalent turns ratio and parallel-series inductance, the cantilever model is selected. Moreover, two novel transformer structures employing parallel pre-magnetization are introduced; only off-the-shelf magnetic cores are required for their implementation. In conjunction with small signal analytical expressions, an adapted SPICE model is provided and compared to FEA simulations. Additionally, the impact of the stray inductance of the structures is assessed, improving the understanding of this controllable magnetic device's constraints and trade-offs. Experimental results align with the derived models and prove the proposed structures to provide significant variations in transformer equivalent turns ratio, keeping a relatively high parallel-series inductance ratio.