My mother passed but asked in the Will for me to setup a Trust Fund for my learning disabled sister.

[Kheldar]

I'm new here but any information would be welcome as it seems to be a bit of a minefield subject.

[Charlie2750 Community friend]

Hello Kheldar and welcome to this thriving community where lots of strangers will help or advise on problems.

I set up a trust in my will and it is just a matter of adding a clause which can be done by a solicitor. I believe it is too late to do that if your mum has died. Phone National Mencap and ask for advice .Google Mencap but not this webpage.

A trust is set up to save inheritance tax I think because as the word trust says the money is left to someone else and you trust them to make the right descisions for your loved one. By doing this and because the money is not classed as theirs they can still recieve benefits.You leave it in trust with a solicitor or bank or someone who wont use it for their world cruise.You advise them what you want by leaving a letter of wishes and also it is put in a discretionary trust fund which allows the person/s to use discretion on what to spend.If you add a nother family member as an executor they can advise the solicitor on what your sister needs but dont use it for "caring" and only for extraswhcih could be getting a new telly or getting the roof fixed or holiday.If you specify caring then Social services may withhold funds.Mencap can give better advice but I do think that you may have to rethink and set up a different system. Please seek more advice because I am not an expert and offer some thoughts about what to do next. Good luck

[Kheldar in reply to Charlie2750]

Thank you for the welcome Charlie2750! After reading your reply it's fairly clear that the other Trustee and I should go back to the solicitors. Thank you also for nudging me in the right direction, it's much appreciated.

[petejmarshall in reply to Kheldar]

Good Morning Kheldar If your Mum who has passed now and put her wishes for you to set up a trust for your sister in Writing then you can take that letter to a Solicitor to set up a trust fund for your sister who has disabilities even better if she had put her wishes in her will before she passed as that is a legal document. You could ask the court of protection for advice on how to get the best protection for your Daughter. By the way social services department are not allowed to touch anything in a trust for a person who has been left it in a will. Without a court order.. so your Sister would be protected by laws of this land. But the best people to talk to are the court of protection and a solicitor who specializes in wills and trust funds. Also your Bank can advise you as well. Good luck in protecting your Mums Money for your sister.

Take care. Peter

[Kheldar in reply to petejmarshall]

Thanks for the info Peter! The other Trustee and I have a meeting arranged for the solicitor and the bank now so it should be sorted soon. A couple of High Street banks ran a mile when I mentioned a Trust Fund but hopefully a normal account with joint signatories and other safeguards will suffice. All the best to you!

[Galwaybay2]

It is the best way to have a fund for your sister without affecting any benefits. After lots of expensive quotes I found a reasonable solicitor who set up a trust fund. A trust will need, I think, 2 trustees who have to agree on any release of money. Your mother was right not to pass money directly to your sister, just a shame you are having to do it when you are managing your loss.

[Kheldar in reply to Galwaybay2]

Yes, the solicitor said the same thing while I was making the appointment so it should be dealt with soon. Thanks for the response.

[lailamencap]

Hello - Laila here from Mencap's Wills & Trusts Service.

If the Trust was set up in the Will then the next steps are to actually set up the Trust. This may involve approaching a financial advisor and setting up a Trust account with the Trustees. A STEP qualified solicitor or lawyer would know about trust law and how to go about setting up a Trust. At Mencap's Wills & Trusts Service we have lists of specialist lawyers should you need one, or if you want any further information. We would be happy to help. We can be contacted at [e-mail] or 0207 696 6925.

All the best

Laila, Mencap Wills & Trusts Service

[Kheldar in reply to lailamencap]

Hello Laila, thanks for the reply! The other Trustee and I now have a meeting with the solicitor who dealt with mum's Will. They will setup the Trust for us and ensure everything is above board. The advice and info was much appreciated.

[lailamencap in reply to Kheldar]

Brilliant, I hope the meeting goes well.

Laila

[Harry_mencap]

Hi sorry to hear you mother passed away but if you need help setting up a trust please click on link to find our more about Mencap Trust Company. They might be able to help. bit.ly/337eXXp

[Kheldar in reply to Harry_mencap]

Thank you Harry but it's all in hand with the solicitor. All the best to you.