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Trust for learning disabilities

sexsex Member Posts: 7 Listener
Has anyone made a trust for their child/adult with learning disabilities and if so, what was your experience? I'm trying to find out what is the best way to leave money in a will. It is expensive to set up a trust, and I'm wondering who can give advice on what is best for your circumstances ? Should we leave it with the help of the charity your child/adult is with to administer your will ? Don't think many charities have this facility, but maybe they should? Would very much like to hear other people's opinions on this matter.

Replies

  • Helenx3Helenx3 Member Posts: 17
    No i haven't but would be very interested in any advice, its a confusing subject.
  • StuartMillsStuartMills Member Posts: 6
    Hi,

    Mencap produce a useful guide to wills and trusts. Download for free at:

    http://www.mencap.org.uk/all-about-learning-disability/providing-future/wills-and-trusts
    Mencap Wills & Trusts Team provide free advice:

    Tel: 020 7696 6925
    Email: [email protected]

    Best Wishes
    Stuart Mills
    Information Officer
    Down's Syndrome Association

  • JimJamsJimJams Member Posts: 175 Listener
    edited June 2014
    National Autistic Society also provide information on wills and trusts.
  • Helenx3Helenx3 Member Posts: 17
    Is it true that a person with disabilities will never be taxed? What if they inherit a decent amount?
  • sexsex Member Posts: 7 Listener
    I think people with learning dificulties are still taxed.
    Our son who work,s is taxed at the lower rate.He also gets disability living allowance.
    Trust,s will pay tax on profits from dividends and interest.A lot will depend on how a trust is set up.
    I understand when a trust is set up it will not charge
    any administration fees this can be set up when the trust is made up by a one off fee.You will have to discuss fees with the solicitor it will depend on the size of the trust and how much work is involved.
    You must check if an annual admin fee will be charged !
  • HeatherHeather Member Posts: 171 Listener
    Hi. My husband and I realised when our son was about 4 years old that our will needed serious updating and we set about planning for the possibilities that we might not be here. We sobbed a great deal. The trust was easily put into place by a solicitor, but having a small family, we asked who would support our two children if we weren't there. Many admitted they wouldn't be able to cope with our son's special needs and Social Services said the children would be seperated as their needs were so different. We eventually found a friend who fosters and we were able to name her as the first contact to make should our children need a new home. It doesn't guarantee their future, but it puts our minds at ease that we have tried to put some provisions in place to safe guard their future.
  • JimJamsJimJams Member Posts: 175 Listener
    I am curious about what age I should be setting up a trust for my son, he is six, but I have put it off to see how his disability develops, can you set up a trust and then change things later on. I also worry we have no one to look after his interests, what do we do in this situation?
  • sexsex Member Posts: 7 Listener
    Hi Marie Before you can set p a trust you & spouse/partner must make a will.You should do this asp.In your will you can make provision for your son.
    It is best you consult a solicitor in your case.It will be money well spent.After you have made your will you can discuss Trusts.The main problem is cost also the law in Scotland is different than England..
    You can change your will at anytime You can also start a trust within your will.IE to strat on death.
    A trust will protect your childs interest.
    You can also appoint tustees in your will it can be anybody including the solicitor a friend,relation can do this they have a legal obligation.However they can also refuse to be a trustee.The main thing is to make your will now as know one will know your intensions for your son if you should die.So make a will now and keep it.Let someone know where it is Again your solicitor will advise you.
    Hope this will help.
    Joe Glasgow
  • JimJamsJimJams Member Posts: 175 Listener
    Thanks for your response joe, I will get in touch with a solicitor asap
  • sexsex Member Posts: 7 Listener
    Your welcome.It would help other if you let us know how you got on with your solicitor.Everyone should make a will SAP It will let members of your family or friends what you would like to happen after death.Not a pleasent subject however once done you can always update it and or add a codacil to your will at any time.If you have a pension you can advise who will benefit in your will.
  • sexsex Member Posts: 7 Listener
    I have started a new forum on money & pensions.
    To add what I said re wills & trusts.
    Our adult son with slight learning difficulties works earns a wage and lives on his own.Even he has made a will.This allows for trustees to know what he wants after death.He is even in a pension schemeSomeone has to get it
    Of course this may not be possible for some children and adults this is ware a trust comes in
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