Special Needs Trusts
Special needs trusts can provide benefits to, and protect the assets of, the physically disabled or the mentally disabled. Special Needs Trusts are frequently used to receive an inheritance or personal injury settlement proceeds on behalf of a disabled person or are founded from the proceeds of compensation for criminal injuries, litigation or insurance settlements.
A common feature of trusts in all common law jurisdictions is that they may be run either by family members (a private trust) or by trustees appointed by the court. Especially where a trust is to be established for a disabled child or young person, great care is generally taken in the choice of appropriate trustees to manage the trust assets. The use of a private discretionary trust can not only be more efficient in terms of taxation and access to government benefits but can also allow for more efficient investment of funds held than where funds are held by a court official (such as the Official Receiver in England and Wales).
Not only can we help with the setting up of such trusts with our legal connections, but importantly we can provide a professional adviser service to the trustees of new or existing trusts so that they can be sure the trust assets are invested in the most appropriate way.
If you want to discuss these areas of advice then please give one of our advisers a call on 01924 339 825 or complete the enquiry form at the top of this page.
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