Docklands Solicitor

- A question we are asked on a regular basis. There are several very important considerations to take into account when leaving assets to a disabled beneficiary.

- First of all, one of the most important things you need to know if you have any beneficiary who is in receipt of means tested state benefits, is that if they receive an inheritance outright that brings their own savings to over £23,500, they will lose their state benefits and the support structure that goes with them. The simple way of ensuring this does not happen, is to leave their inheritance to them through the use of a Trust in your Will, for which you need to speak to an estate planning specialist.

- Any beneficiary who may be unable to manage their own money - maybe through disability, or as a result of drug or alcohol or gambling addiction - can also be provided for by the use of a Trust in your Will, to protect your assets for their benefit.

- Likewise, if any of your beneficiaries is in an ‘unsteady’ marriage (or you simply do not want their spouse to get their hands on their money!) or is, has been or is liable to become bankrupt, again the use of a Will Trust will protect their inheritance from their creditors.

Labels: assets, beneficiary, disabled, Will Trust