Disabled Discretionary Trust »
If you have a disabled child or grandchild you will want to ensure that the child is looked after if you die. The problem is that by leaving assets in that disabled person’s name they will almost certainly lose any state benefits they are receiving until the money has run out. They may also be unable to manage money themselves.
Some people therefore decide to leave those assets to one of their other children instead, trusting them to use that money to improve the life of the disabled person. The potential problems and issues that arise out of this course of action are fairly obvious.
By leaving a proportion of their assets in trust to a disabled beneficiary instead, with an alternative beneficiary also named, this problem can be resolved. Trustees are appointed to administer the fund at their discretion, so although the disabled person can benefit from the assets, they do not own them so their benefits are not endangered.
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