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Making a fair will

(4 Posts)
1woozle Thu 22-Oct-15 18:33:42

DPs are in their 80s and have recently discussed their will.

I have 1 DB - he is in his late 50s with mental health and alcohol issues. He has not worked for last 25 yrs and lives some distance away in rented accommodation. He is generally vulnerable, doesn't look after himself and needs support to cope with things like paying bills. He is very lonely and in the past has been exploited by individuals eg doing manual labour without being paid and on another occasion we found that someone had moved into his flat! was bullying him and would not leave until we intervened.

My parents were not good parents and IMO many of his problems are down to them.

They have told me that they intend to leave everything to me with smaller sums to DB and my DC. They feel that any money he received would leave him vulnerable to exploitation - I do agree that this Is a possibility. They have asked that I look after him financially.

My concern is that this arrangement is not a fair division and will add to his (justified) feelings of being less favoured by DPs and I have seen the hurt that this causes. Their estate will not be huge, but Is there a way of leaving DB his 50% in the will and protecting it at the same time ie limiting his ability to give away lump sums to unscrupulous individuals.

Collaborate Thu 22-Oct-15 23:06:55

A discretionary trust might work, with you being one of the trustees and brother having a life interest, with absolute discretion on the part of the trustees to advance capital.

Disclaimer - this isn't my area of law.

Ricardian Sun 01-Nov-15 18:39:31

The problem is that trusts with adult beneficiaries can be dissolved by the beneficiary.

DeoGratias Mon 02-Nov-15 07:29:02

I think your parents are right.
Also if they gave him a lot of money it might remove his entitlement now or in the future to housing benefit and any other benefits.

You can then ensure he is looked after once they are gone.

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