I need a will and possibly think a Disability Trust for Autistic Spectrum Disorder son is the way to go.
Any lawyers out there who have ASD children? What have you done?
I am in the initial stages of gathering information for my will. I have contacted the National Autistic Society and specialist solicitor of course.
This has been said" This is a type of discretionary trust that can be set up for a person who is disabled (according to the definition outlined by the government). As well as the benefits already mentioned under discretionary trusts, the benefit of a disability trust is that it is not taxed in the same way as other trusts. Whereas other trusts are affected by periodic taxes which happen every 10 years or so, taxing a trust for 6% of the total amount at that time, those charges don't apply to a disability trust."
There are two siblings (in total) and three cousins.
What do you think? What are the pros and cons of a "Disability Trust"?