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Original poster

Trusts for children

3 replies

Mammamia182833 · 18/07/2025 17:29

Hi, I have three children with SEN which makes them vulnerable financially. It’s very hard to say if they will be able to manage their own finances in the future so I would prefer that our estate is passed on in the form of a regular income rather than given in one go. I have been thinking about getting a trust set up in the event that something happens to DH and me so they are protected financially. I’ve been thinking about using the service of a charity like Mencap to manage it. Is this something that is advised?

Secondly, my family also want to pass on money to my children, again in the form of a trust. They are looking to set it up with their solicitor. Does it make sense to have two separate trusts or is this unnecessarily complicated?

Thanks for any advice. We will get some advice in the coming weeks but I thought I would ask here in the first instance.

OP posts:
YourJoyousDenimExpert · 18/07/2025 20:47

Hi - I heard this lady give a presentation a few months ago and she is aware of all the pitfalls
re benefits etc and so it may be worth talking to her. She is a SEND parent herself.

www.planitfuture.co.uk/about-us-1

TinyFlamingo · 19/07/2025 06:31

You can just have a family trust setup you don't need multiple. Any good estates solicitors or financial planner with solicitors connected can do this for you.

It's tax efficient and you can set really clear terms on how you want your money to be managed and by who.

I've set one up, because of a high conflict ex and divorce, I don't want the money frittered, I'd want the house protected and for my son to have choices in buying a home, setting up a business, doing something with it so he's going to inherit after 25, but with access to some money for driving lessons, uni, theatre school or whatever as deemed by the trustees and belt and braces around my ex to prevent access for him. And spending it all and N never knowing there was money at all.

Your situation is different you'd be looking at monthly income and ongoing administration but it's the same.

Definitely get some advice. Also would the charity do that and would the organisation still be around in the future?
All things worth considering.

Fore it'sy best friend, and my son's fairy godmother. But you can have up to 4 so think about who, I wouldn't just have the charity.

springtimemagic · 19/07/2025 15:45

Mammamia182833 · 18/07/2025 17:29

Hi, I have three children with SEN which makes them vulnerable financially. It’s very hard to say if they will be able to manage their own finances in the future so I would prefer that our estate is passed on in the form of a regular income rather than given in one go. I have been thinking about getting a trust set up in the event that something happens to DH and me so they are protected financially. I’ve been thinking about using the service of a charity like Mencap to manage it. Is this something that is advised?

Secondly, my family also want to pass on money to my children, again in the form of a trust. They are looking to set it up with their solicitor. Does it make sense to have two separate trusts or is this unnecessarily complicated?

Thanks for any advice. We will get some advice in the coming weeks but I thought I would ask here in the first instance.

Google Rhian Gogh at plan it future. The best

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