Trusts

[h1e90]

Hello! Confused and overwhelmed sibling here! I'm gradually taking over the responsibility for my brother's finances etc from my father who is getting older now and has his own health problems.

A Trust was set up about 10 years ago after my grandfather left us some money. Since then, it has just ticked along with my father direct debiting £10 per month to keep the account active. We've now had a letter from the bank asking to arrange a T/C appointment to discuss this account that seems to be a business account? Is this normal?

This is causing my father great stress and I am keen to do what I can to relieve him from this. Do other people just manage Trusts themselves with relative ease or is this something that a Solicitor could be paid to manage and provide info/advice when we need it? I have already sent an email to the Mencap Wills and Trust department for advice.

Thanks in advance!

[I_am_a_sibling Survey Community friend]

Hi h1e90 , you're not alone in feeling confused and overwhelmed by all of this - and there are so many other siblings out there finding the same when they take on responsibility for a brother/sister's finances. It's great that you've emailed Mencap Wills & Trusts, I'm sure they'll have some really useful advice (they also have great workshops too). It would be worth asking a solicitor to review the Trust fund for you, to make sure it still meets your brother's needs. A solicitor could be paid to manage it for you and update it over the years as needed and as the laws change. If you want to meet other siblings who are in the same boat as you, have a look at Sibs - the charity for brothers and sisters of disabled children and adults. They have online support groups at: sibs.org.uk/support-for-adu...

Hope this helps, take care and let us know how you get on. Fx

[h1e90 in reply to I_am_a_sibling]

Hi, Thank you, it is reassuring that other people are in the same boat and it's not just me!! Hiring a Solicitor on-going is my plan I think and I am currently exploring local services. Do you (or anyone else!) know if payment for Solicitors can come out of my brother's money (he receives benefits and we are constantly trying to reduce his finances below the 6k threshold!) or would we have to pay for it ourselves?

I have already contacted Sibs but yet to hear back, it was only about a month ago so I'm sure I'll hear from them soon!

Thank you so much for your help!

[49Twister in reply to h1e90]

I’m not an expert so some other advice is probably needed but I would have thought your brothers money could be used as it’s to help sort his finances out for the future. Lets face it if he was able to manage his own finances you wouldn’t have to go to this trouble or expense of having to have a trust etc, seems perfectly acceptable to me.

[I_am_a_sibling Survey Community friend in reply to 49Twister]

I agree with 49Twister - if it's your brother that needs the solicitor, the payment for this should come from his funds. Sibs are normally quicker to respond than a month - try re-emailing your message/check spam filters. You're definitely not alone - many, many siblings out there in the same boat h1e90 ! Take care, Fx

[Sarah_Mencap in reply to h1e90]

Hello

I hope you hear back from the Wills and Trust service soon as they will be able to answer the question about paying for the solicitor.

Please let us know how you get on.

thanks

Sarah

[manyhats in reply to h1e90]

I'm too in the process of hiring a solicitor as trustee for my sons long term finances, even thought my daughter has 2nd lasting power of attorney l have made enquiries to involve a solicitor as a trustee too. Good luck!