Inheritance being lost
DISCRETIONARY WILL TRUSTS
My name is Jaclyn, Jac to my friends (my mother only calls me Jaclyn when I am in trouble!). My younger brother Stevie is profoundly mentally handicapped and has a mental age of about 18 months. Both of us had brain haemorrhages when we were 6 weeks old, and although I have been left with severe tunnel vision, I was the lucky one. Stevie loves trying food, listening to music, having a glass of Tia Maria and spending time with his family; the only word he has ever said consistently is Gaga, that’s what he calls me. He is my world.
About 15 years ago, when I was beginning my career, I decided that I wanted to work in law. I went to a seminar on Wills and Trusts, to see if I would like to specialise in this field. This seminar taught me more than I ever thought it would and I was shocked when I heard that if my mother left anything to Stevie in her will, and he was in receipt of benefits, then all he would be left is his personal allowance. This is because often inheritance is mean tested, which can lead to benefits being lost. My mum was so upset, she wanted his inheritance to allow him to have some luxuries in life, so that he could enjoy himself and keep living comfortably.
I learnt more and more about Discretionary Will Trusts. These can offer an answer, as they are not means tested and can help a loved one who is perhaps unable to manage their own money. I trained and specialised in this field so that I could try to help others in a similar situation to our family.
Please get in touch with me if you have any questions about Discretionary Will Trusts or would like some guidance. You can message me on here or give me an email on [email protected].