Safeguarding Benefits with Discretionary Trusts
If one of your children or beneficiaries is disabled and/or in receipt of means tested benefits, the use of discretionary trusts is very important to provide maximum protection to them and the assets you are passing to them.
The sudden receipt of a large lump sum could stop or jeopardise their means tested benefits. For those that suffer from mental or physical disabilities, this can be particularly disturbing or upsetting if it means they have to move as they are no longer eligible for their current accommodation.
Directing the assets into a suitable discretionary trust or disabled person trust can enable you to appoint trustees to oversea and manage the inheritance your are passing to a disabled child or beneficiary. The trustees can ensure that the assets are used or released in a better so means tested benefits are no impacted.
Such trusts can be incorporated into your Will. Please contact us for more information.
Services overview
Wills
We offer a full range of competitively priced Will writing services to cover all circumstances and needs. From simple Wills to sophisticated Wills using Trusts to maximise asset protection.
Trusts
We can set up various types of Trusts to protect assets whilst you are alive and after you have gone. Protect your assets from threats and retain wealth within your family.
LPAs and POAs
We specialise in drafting and registering Lasting Power of Attorney (LPA) and Power of Attorney (POA) documents for you so that you can appoint trusted representatives to make decisions for you and ensure your needs are meet in the event of both short and long term incapacities.
Inheritance Tax Planning
We provide expert death and lifetime planning to minimise Inheritance Tax payable on your death. This is time dependant and often needs to be done in phases so the sooner you start the better.
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