Wills And Trusts
This section may help you if you care for someone who has a mental illness. You might have thought about how your money and things you own (your assets) can pass to them when you die. This section looks at how you can plan this by writing a will and setting up a trust. In this section, we call the person you want to leave your money and assets to ‘your relative’.
- Planning ahead can help make sure your relative gets the most out of their inheritance.
- An inheritance could affect your relative’s entitlement to benefits and could lead to them being charged for social care services. A ‘discretionary trust’ may help to avoid these problems.
- A discretionary trust means that your money passes to a ‘trustee’ instead of your relative. The trustee could be a family member, friend or another person. It is important that this person is reliable, because they will have the final say about whether your relative gets any of their inheritance.
- It is possible to write your will yourself. However, if the issues are complicated or if you plan to set up a trust, it is important to speak to a solicitor.
This section covers:
- Why should I make a will?
- What if my relative inherits a lump sum?
- What are discretionary trusts?
- What is Rethink Trust Corporation (RTC)?
- How can I find a solicitor?
Last reviewed in February 2017. Next review February 2020.
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