Caring After You've Gone

Having a severe mental illness can sometimes make it difficult to manage finances on your own or look after your assets. Carers often take on these responsibilities for their loved ones, but what happens when they are no longer around?

We know this is a worry for many carers, and one of the ways we can help is through our subsidiary Rethink Trust Corporation (RTC), which was set up specifically to help in these situations. RTC acts as trustee and executor and provides trust and estate management services.

The board of RTC is made up of experienced carers, together with some individuals chosen for their particular trust management and financial expertise, and their interest in Rethink’s work, all of whom are actively involved in the decision making process.

What is a Trust?

A Trust is an entity for managing money and assets on behalf of those who have difficulties in managing their own affairs. It is set up so that your loved one benefits, but is not left having to look after things on his or her own.

A Trustee manages the trust’s money, investments, property etc. and is bound by the law to act only in the best interests of the beneficiary. The way in which the trustee must act will be set out in either your will, or a legal document known as a trust or settlement deed.

Additional guidance may be given in a separate letter of wishes. A properly set up trust should not affect your beneficiary’s entitlement to state benefits.

We can assist you in instructing solicitors to prepare your will or a trust deed so that it satisfies your wishes and your beneficiary’s needs.

Rethink has been established for over 30 years so we understand how difficult living with a severe mental illness can be, and the long term commitment involved.

That is why our service is unique and set up to benefit the person affected, helping them recover a better quality of life.

• Read more about Rethink Mental Illness, our history and how we help tens of thousands of people affected by mental illness

What we offer

RTC can help set up a trust for you. We are here to help answer any questions you have and will refer you to a solicitor for legal advice as appropriate.

We can act as your trustee either on our own or jointly with those who know the beneficiary well, including other family members, and we will manage the trust properly for you.

Our guiding principles are to ensure that the trust is managed to the highest professional standards whilst at the same time maintaining a close personal involvement with the beneficiary.

Although your initial act is to establish a trust you may decide to wait until a later date before transferring assets into it, including by a provision in your will.

The Rethink Advice & Information Service are here to help and advise you whatever process you may choose.

How does it work?

Once you have set up the trust and your chosen assets have been transferred, the trustees take responsibility for managing these. Advice is taken from professional advisors and the views of those closest to the beneficiary sought to make sure that we get the most appropriate return for your loved one.

Once the funds have been invested we continue to monitor closely the performance of the investments and their distribution to the beneficiaries.