Trusts for Inheritance

Rufus08

Hi

A disabled family member has been left some money via a relatives will (they have unfortunately now passed away).

No trust is mentioned in the will but we'd like to make sure the money can be used by the family member and doesn't effect benefits. Can anyone please advise is it possible to put this money into trust for them? Thanks.

Geo08

Hi @Rufus08

I am very sorry for your loss.

First off this is not legal advice! But you would really need to look at the precise wording of the will and who the executors are. A will, provided it is written and executed correctly, is actually a trust in its own right. So technically, until the assets are paid out, they belong to the estate of your disabled family member however, the will has to be executed in line with the person's wishes. 

I would be very careful about how you proceed as dodgy dealings related to benefits could result in them being withdrawn or possibly even going to prison. I strongly suggest that you consult a lawyer and give them more details about what you are trying to achieve and they will be able to advise you in more detail about how to proceed. 

Blue Frog

Mencap provide some info on Wills and Trusts - and they have a lot of recommended solicitors who specialize in this area 

Debbie_Alumni

Hi Rufus08,

This is a really complex area and as @Geo08 has suggested you need to get some legal advice about this.

There are lots of resources available on the internet but it can be difficult to work out how things will specifically apply to your family member.

For information purposes here's a link to the information on our website http://www.scope.org.uk/support/families/will-trusts and also the government website which explains a bit more about the different trusts available. https://www.gov.uk/trusts-taxes

I hope you're able to get some good advice about this and if you have any further questions I will try to answer them but we're not qualified to provide this level of financial advice so I would only be able to provide general answers or point you in the direction of where you can get some more specific advice.

Thank you @Blue Frog for suggesting Mencap's resources, they do have some good information.

Best wishes
Debbie