will and trust without relatives to be trustees

[outdoorsy1]

I need to change my will. My son wont be able to manage his money and would be vulnerable. So a trust seems the right thing. But, my family is top heavy - lots of elderly relatives, no younger ones. There really isn't anyone I could ask to be trustees, so what is the answer? I know you can have solicitor as trustee... no emotional interest in my son though. Any thoughts

[Eeviee]

Hi. A trust can have a number of trustees which can be a mix of relatives, friends and professionals. The point is you need to have a trust set up for when you die and as you don’t know when that will be you need to get it in place asap. You can set up the trust with trustees who are living now with them being replaced with other relatives as they pass away. Eventually even one relative or good friend who has your sons best interests at heart plus a professional such as a solicitor known to you would be a good outcome. The trust doesn’t have to have any assets until you die. Hope this helps

[outdoorsy1 in reply to Eeviee]

perhaps I wasn't clear in my question.... I am asking what to do if there is a lack of relatives and friends I could realistically ask to be trustees. The ones that do know and love him are a lot older and so would not be a situation that would last long at all. So.... assuming a lack of friends and relatives to fill that trustee space... what is the answer?

[Eeviee in reply to outdoorsy1]

Hi. I think you have answered the question yourself if there are no friends or relatives. You have no choice but to use a professional trustee such as a solicitor

[MontyCat]

Hi. Are there any good family friends who might take this on, perhaps with a solicitor as a trustee as well so there is less anxiety about the legal issues?

[outdoorsy1 in reply to MontyCat]

I did approach a few, but there were doubts and anxiety, and I would always have a professional trustee to handle the legal bits.. but still there were doubts...... Turns out that people can be very fond of a disabled person, but also not want to take on any responsibility...... And they were my age, ie a generation up for my son, so a bit limited in its usefulness.

The problem is I know of someone who died, and left a trust for their in the hands of a solicitor, and the solicitor didnt do much aside from charging their annual fee....

[MontyCat in reply to outdoorsy1]

Sadly some solicitors do only seem interested in how much money they can gain for themselves but there are good ones out there too. It may be worth checking those who specialise in trusts and maybe see if you can get some testimonials or check them out with the Law Society to find if they are regulated by the SRA (Solicitors Regulation Authority)....may help to allay some of your concerns. Best of luck.

[learner01]

What a difficult situation for you. Mencap have a trust service. I have no experience of it but it might be helpful to you. There may also be other charities that provide something similar.

mencaptrust.org

[learner01]

Sorry, should be mencaptrust.org.uk

[FragileXmum]

Hello outdoorsy1, we are in exactly the same position and have also found it very difficult to get anything suitable in place for later years. We have already put in place a discretionary trust facility via our most recent wills, and are increasingly thinking that using Mencap wills and trust service is probably going to be our best bet. Their specialist department is very helpful in sending links to information and they do the occasional webinar about it, so I suggest you get in touch with them soonest to help put your mind at rest. It may not ultimately be the best route for you but would be a starting point. They can also provide a list of some recommended solicitors who are experienced in this sort of work. Good luck, and if you find a magic answer please let me know!!

[SpeedyH]

Hi there. I could have written your post! We have no one who is likely to outlive my son and who would be willing to be a trustee. We have had a sad realisation as he gets older that Carers who have worked with him for many, many years and profess that he is ‘part of the family’ in reality only view him as a job of work. I think perhaps there are two separate roles that we need to differentiate - the financial management and the well-being management aspects. A trustee of a trust should in theory follow your wishes (laid out in a ‘letter of wishes’ document, although this isn’t legally binding). It is very important then that you are very clear as to what you want the trustees to do financially and you could refer them to another person in the letter of wishes, if you can identify someone, to advise them on the well-being aspects. So the trustees in effect write the cheques taking into account the advice of someone who knows your son well. I think this is important because not being able to identify the ‘well-being’ person must not be a barrier to setting up a trust because without a trust, if your son inherits from you, that money will be taken by adult social care to pay for his support. As others have said, Mencap offer a trustee service although I personally would not want to use them as I do not agree with Mencap’s policies and stance on a number of LD related matters, most recently their support of the DS Bill which sells most people with LD up the river.

I wonder whether the way forward might be to pay someone to carry out the ‘friend’ role though I haven’t thought this through. So, I have no answer but wanted you to know that your dilemma is not unique.

[Hickory1]

so with you on this one....such a dilemna! I’m in exact same situation. Want someone as trustee that rings home he lives in to see how he’s doing and acts accordingly to manage trust. Once a year managing funds to buy items will not work. My son is impulsive and needs things when he needs them! Won’t be budged. Anyone have a solution? ( so hard to deal with 😢)

[jesspup]

Hi, I'm in the same boat. It's just me and my son and when I die he is totally alone. I've done a will and discretionary trust but no family or friends trustees, just a solicitor. It is my greatest worry. What happens to him when I'm gone, how will he be treated, who will really get the house and money left in trust. Short of a magic wand, I feel helpless and full of concern for his future without me. Wish I had the answers to help all of us in this position.

[Buddyh]

yes, I have the same problem. The future of our adult children leaves us feeling scared. There doesn’t seem to be a perfect solution 😢

[DrSarahmac]

Yes I’m in the same position. I’m an only child as is my daughter. I don’t have close relatives that I could ask to be a trustee. It’s quite an onerous task. I went to the mencap seminars on setting up a trust and through that got to understand what’s needed from a trust but it also introduced me to two legal firms that specialise in this. Mencap also have their own trust company and can manage a trust on your behalf. In the end I’ve appointed one of the legal firms as trustees. I feel much calmer now knowing this is in place. I’d start by attending one of the mencap seminars. They are excellent.