Help putting money into a trust

EllePea
EllePea Online Community Member Posts: 2 Listener
edited February 2 in Money and bills
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  • EllePea
    EllePea Online Community Member Posts: 2 Listener

    Hi,

    I'm new to forums so please forgive me if the answers are all here… happy to be directed…. quick question really…. my brother has some savings over the 'allowed' amount and I want to out them into a trust for him, which can then be left to his nieces in his will.

    I've just become an appointee for him and have applied for LPA as he struggles to manage his finances.

    Does anyone have any useful advice? He would like to go on holiday occasionally and things like that, so the trust needs to be supportive of him while not counting against him in benefit calculations…

    Thanks

  • Holly_Scope
    Holly_Scope Posts: 4,178 Scope Online Community Coordinator

    Hi @EllePea sorry you've not had a response to this yet. Have you had any luck since originally posting this?

    If you've not already, it might be worth getting some specialist legal advice and support with drafting a deed given the complexity of trusts and the system.

    Best wishes,

  • anisty
    anisty Online Community Member Posts: 863 Championing

    This is something you need to see a solicitor about. There is a way of doing it but you don't want to fall foul of the deprivation of capital rules.

    It's too complex to do yourself.

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