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
If you have a query or would like to book an appointment please get in touch with our First Contact team on 01256 320555 or email mail@clarkeandson.co.uk
