Active8 issue 206 April 2020

Protect your
disabled child
for life
ACTIVE8
Nichola Barnes, a wills and probate specialist at
local solicitors, Taylor&Emmet, warns that if you
are the parent of a disabled child, it is important to
seek legal advice as early as possible
W
HEN children come along, we hope to raise them to be
independent, so they won’t need to rely on us in adulthood.
Sadly, parents of disabled children face a very different reality.
They have to contemplate the prospect that one day, they will not
be alive to provide essential care and protection. So, who will?
I often help parents of disabled children plan their estates,
putting measures in place to ensure they will be adequately
provided for and protected throughout their lifetime.
It is very important these issues are dealt with early, to avoid
your child inheriting large sums of money they cannot manage and
that may impact on their entitlement to claim state benefits.
We can draft wills that incorporate trusts, to prevent children from
inheriting your assets outright. This will ensure they do not exceed
capital limits for means tested benefits, allowing them to claim the
financial support that should be theirs by right.
Trusts also protect the vulnerable from themselves and
unscrupulous third parties, who might otherwise take advantage.
There are different types of trust that can be included in wills,
depending upon your needs and those of your children. For example,
a life interest trust will give a named beneficiary the right to live in
your property for a set period of time, or even for life, and receive an
income from the fund. When the beneficiary dies, the trust then
determines what happens to the remaining money.
Alternatively, a discretionary trust can be included in your will that
provides for a number of beneficiaries at the same time. The trustees
are given wide ranging powers to decide who to give money to and
when, whilst crucially, the beneficiaries cannot demand payments.
If you are the parent of a disabled child, it is important to seek
legal advice as early as possible, so recommendations can be made,
based on your unique needs and specific circumstances.
To find out more about making provision for disabled children,
telephone Taylor & Emmet’s Ecclesall Road branch on 0114
2184360, visit www.tayloremmet.co.uk or follow the firm on Twitter:
@TaylorEmmet.
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