If you have a child with a disability, planning for their future is vital. While it is understandably difficult to imagine a time when you won’t be around to care for your child, you will want to ensure that they are taken care of.
By including a Trust in your Will, you can provide for your disabled child when you are gone.
A Trust is often a better option than just leaving a specified amount in a Will. Especially where:
- Leaving your child with a large amount of money could put them in a vulnerable position. For example, making them a target of abuse from others
- Where your child is not able to deal with their own finances
- Where your child could lose their means-tested benefits.
Of course, you could leave all your money to someone you trust, on the basis that they look after your child. But this option is fraught with difficulties.
Firstly, you never know how someone’s changing situation and finances could impact your child. Secondly, if they die, their estate could go directly to their children (or other beneficiaries), leaving your child with nothing.
Establishing a Trust helps to avoid such uncertainties and ring-fences the inheritance earmarked for your disabled child.
If you would like to find out more about disabled person trusts please get in touch:
Call 01362 288582
email [email protected]