Money in Trust

[NotSureIfiAmWell]

Can anyone advise me please.

I am currently updating my Will as I am getting divorced. I will be leaving everything to my two sons evenly.

My eldest is autistic and is unlikely to be able to manage his own finances when older so I am concerned about what will happen when I'm gone.

Is there a trust or something that can handle his affairs?

Many thanks for your help

I'm usually all for diy, but a trust is one area where you really need help from a solicitor.

Hi OP, I'm a will writer and this is something which can be sorted with a disabled person's discretionary trust.

If you are fairly sure that your eldest son will not be able to handle his own finances, I suggest that you go down this route.

The main advantages of a disabled person's DT is that, because the child never actually receives their cash directly, they are less likely to be a target of unscrupulous people, and also any means-tested benefits won't be affected.

The will splits the estate into a "Family Fund" for the disabled person, and the rest goes to your other son outright.

The Family Fund can be used for things like improvements to a property, education, hobbies, holidays, transport; anything you'd normally pay for yourself.

If you need any more info feel free to PM me.

Thankyou so much.

Do you know of any companies who I could set one up with?

I'm not sure if I am allowed to do this but anyway... Just wanted to say that I, like a lot of Mumsnetters, have used mumblechum's services and she is brilliant. She should be able to do you a DT. I'm a solicitor, although I know very little about probate/ trust law. I was really pleased with the advice and services I received and have no hesitation in recommending her.

thanks so much London, glad you were happy with the service!

OP feel free to PM me.

Thankyou

Second the recommendation for mumblechum
She sorted out LPA for my parents and was great

I agree with that. Mumble is highly recommended on here.

Indeed, I'm another vote for mumblechum, brilliant service.

Blimey, I'm blushing here!

Thanks Hopping, Lineys and Finally for your extremely kind words!