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.
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