Grandparents with vulnerable beneficiaries

We were contacted recently by a client who has a disabled son. He had concerns about what would happen to his son if his parents were to die.

After speaking to this client, it transpired that his father was still alive, and owned his own house outright. Although he had recently had a new will drafted by a local solicitor, it did not contain any trusts or other suitable clauses to stop his grandson’s share of assets ending up in his outright possession.

This could ultimately lead to his grandson loosing future benefits and care support packages, which the grandfather’s solicitor had not mentioned.

We were able to implement planning for the grandfather, which included bespoke trust structures thus ensuring that, should he pass away, nothing was going to be left directly to his intended beneficiaries. As a side effect of this planning, should the grandfather need long term care in the future, his house is now protected for his beneficiaries.

This is another example of how placing your assets in trust can ensure ongoing protection for vulnerable beneficiaries.

Get in touch NOW to see how we can help…