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Clarke & Son Blog​

How to leave a legacy for vulnerable adults

Nia Wharry, Partner, Head of Wills & Estate Planning –

If you are a parent of a child with learning difficulties, you will be concerned about how they will manage financially after your death and what the best way is to leave a legacy for them.  This article offers a solution to this difficult situation. If you would like to consider a discretionary trust for a vulnerable child please contact us.

Tom has three adult children, one of whom, Mary, has learning difficulties. He has approached his adviser because he is concerned about making gifts to her in his lifetime and how he should leave her a legacy on his death. He wants to make sure she is suitably provided for.

The solution

The adviser informs Tom that, if Mary is in receipt of a means-tested “care package” from the local authority, any monies left to her will be taken into consideration, which may affect her benefits. This could mean any inheritance left to Mary could be used to pay for the cost of her care.

Read more: http://bit.ly/2q6TwV5

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