What are disabled trusts?
There are a number of different types of trust. Put simply, a trust is a parcel of assets (such as cash, property, or possessions such as antiques or other valuables). A donor (perhaps a parent or relative) places the assets they wish to give into a trust fund to be used on behalf of one or more particular beneficiaries. The trust and any income it generates are then managed by trustees. Disabled Trusts (sometimes referred to as ‘disability trusts’) are designed especially to help vulnerable and disabled beneficiaries. With our specialist expertise in working with and for those with special needs of many kinds, the Wrigleys team has a wealth of experience in creating disabled trusts that will support and provide for your loved ones after your death. Because disabled trusts (or ‘trusts for vulnerable beneficiaries’) usually attract special tax treatments, they are also a valuable way of ensuring the maximum benefit to your beneficiaries.
If you are interested in setting up a disabled trust for a loved one, then it’s wise to talk to our experts sooner rather than later. To maximise the benefits, time is of the essence in organising a disabled trust, as the means-testing advantages will only apply to those trusts which are established before the benefactor’s death. Too many people find out too late (after a parent, carer or other benefactor has died) that a trust would have been the ideal means of making the best possible provision for a disabled or vulnerable person’s continuing needs. Indeed, it’s possible that a disabled person can actually end up worse off if they inherit without the protection of a well-crafted disabled trust.
In safe hands
In the hands of Wrigleys’ specialists, however, establishing and running a disabled trust is no problem at all. We can manage every aspect, including acting as court-appointed ‘Deputy’ to make sure that the trust generates the best possible results for someone who is unable to manage their own affairs and needs.
Find out more today. Call our helpful experts on 0114 267 5588 and let’s talk.