NSF Trustees schemes
A Discretionary Trust is the usual suggestion of family solicitors for handling estates involving mentally ill beneficiaries - a company founded by Rethink, namely NSF Trustees Ltd, has 2 such specialist Trust schemes.
Such a Trust offers a good measure of flexibility but the regulations and laws affecting mentally ill beneficiaries are of such specialised relevance that the average solicitor or relative as a Trustee is not able to have sufficient up-to-date knowledge for effective stewardship. Some Trusts offered by solicitors completely fail to give protection.
A company founded by Rethink, namely NSF Trustees Ltd, has two specialist Trust schemes, in which it acts as Trustee either by itself or with a co-trustee who can be a family member. Please write to us if you require further details.
Please note that NSF Trustees Ltd will only act as Trustee of a Trust which has been set up with its knowledge and where it has approved the precise wording. For this reason, a Trust within these schemes is set up by deed during the lifetime of the person setting it up even though the main funds may only be brought into the Trust when that person dies by his or her Will. NSF Trustees Ltd will not act as a Trustee of a Trust which is actually set up by Will nor of any Trust outside its own schemes. NSF Trustees Ltd does not act as executor.
Changes in the Law
Finally the latest position regarding the law, Social Security benefit regulations and taxes must always be sought. Although this information will be up-dated, there can be changes at short notice.
