Vulnerable Persons Trust
Get in touch today to discuss the most suitable solutions to protect you and your family.
A Guide to a Vulnerable Persons Trust
A Vulnerable Persons Trust is a legally binding instruction which can be implemented into your Last Will & Testament.
How does a Vulnerable Persons Trust Work?
A Vulnerable Persons Trust is a vital addition to your Last Will & Testament if you are planning on leaving any proportion of your estate to a loved one who is disabled or has severe learning difﬁculties. The purpose of a Vulnerable Persons Trust is to appoint your executors /trustees to legally manage the provisions which have been left to the person.
Why is a Vulnerable Persons Trust important to protect my loved ones?
Leaving your estate to your loved one who may be vulnerable can often have undesirable effects if the proportion of the estate which is left is not put into Trust. This commonly results in state assisted care and any beneﬁt being stopped as receiving the estate will often result in your loved ones exceeding the means testing threshold.
How would a Vulnerable Persons Trust stop this from happening?
The Trust allows the proportion of the estate being gifted to the vulnerable person to be managed by the executor or trustee. As a result of this, the Trust works as a ring fence around the inheritance meaning the assets being left in the Will would not be subject to means testing as it would not form part of the beneﬁciary’s estate.
Please speak to our specialist advisers if you need more information on this product. Assured Wills & Estate Planning Ltd.