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Vulnerable Beneficiary Trust/Disabled Persons Trus
- Glenys Williams
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4 years 11 months ago #234164 by Glenys Williams
Vulnerable Beneficiary Trust/Disabled Persons Trus was created by Glenys Williams
I write in anticipation of a small legacy from my parents. I have learned that I will not be able to use this legacy to my advantage as it will result in the withdrawal of my benefits. I understand that I can protect this legacy by setting up a Vulnerable Beneficiary Trust or a Disabled Persons Trust but have been unable to find out any clear information about either of these. Can anyone offer any advice or point me in the direction of further information? Thank you
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- Gordon
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4 years 11 months ago #234191 by Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic Vulnerable Beneficiary Trust/Disabled Persons Trus
G
Welcome to the forum, you might want to have a look at the following FAQ which explains where everything is
Welcome to Benefits and Work
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You need to get legal advice but see
www.gov.uk/trusts-taxes/trusts-for-vulnerable-people
Make sure that any solicitor that you use has experience of setting up one of these trusts.
Gordon
Welcome to the forum, you might want to have a look at the following FAQ which explains where everything is
Welcome to Benefits and Work
In case you are not aware, your real name appears to be showing in the forum, if you want to change this then follow the instructions in the following FAQ
My full name is showing, how can I stop it?
You need to get legal advice but see
www.gov.uk/trusts-taxes/trusts-for-vulnerable-people
Make sure that any solicitor that you use has experience of setting up one of these trusts.
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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- pomaus
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4 years 11 months ago #234227 by pomaus
Replied by pomaus on topic Vulnerable Beneficiary Trust/Disabled Persons Trus
Trusts are very complex and need professional legal advice.
You need to contact a local solicitor that specialises in this type of thing,
Expect to pay around the £1000 mark to set up a trust.
I believe this type of trust needs to be set up by your parents, stating that your legacy was to be held in this trust in the event of their passing, the trust would also need 2 Trustee's to manage the trust for you, it is not something that you can do yourself.
You need to contact a local solicitor that specialises in this type of thing,
Expect to pay around the £1000 mark to set up a trust.
I believe this type of trust needs to be set up by your parents, stating that your legacy was to be held in this trust in the event of their passing, the trust would also need 2 Trustee's to manage the trust for you, it is not something that you can do yourself.
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