If you have a disabled child or relative, are you up to date with the law in respect to how you can set up a trust for them in your will and the complex rules regarding these? Are you aware that there were major changes in 2013?
Here at UTK, we can guide you through the pitfalls. Even if the inheritance isn’t particularly large, it can still have a negative effect on your child or relative, not only from an inheritance tax perspective, but also on their benefits and support care from their local authority.
UTK is a STEP accredited firm, with Director Adam Bruce also having been elected as the Chairman of STEP Wales in 2015. We specialise in trusts and our expertise in this area of law means that we can navigate through the complex minefield involved in establishing a trust which protects that money and in turn provides for the disabled person in question.
If it is not the right trust, it will likely fail, with catastrophic effects in the worse case scenarios.
Please read this article for a more in-depth explanation and feel free to call us to arrange a FREE 30 minute consultation regarding such matters.
If you have a disabled child or other relative, this kind of forward planning is something that will benefit you. Even if you already have a will, if it is over five years old then it is likely to need a review.
Many charitable organisations supporting the disabled and their families also stress the need to instruct expert legal advice on the matter of your will, in contemplation of setting up a trust for your disabled loved ones. Not all solicitors are experienced enough to deal with such a complex matter and expert advice should be sought. We are experts in this field, so why not give us a call?