Planning for the future is particularly important if a member of your family has a disability, physical or mental health problem, addiction or long-term condition. You may want to make provision for them in your will and they may need support to manage any money that you leave them. You also need to consider the financial impact of making a will or trust. Any money that you leave to the person you care for may affect their welfare benefit entitlement and any financial contributions that they have to make to pay for their care.

Everyone’s situation is different. It is important to get expert legal advice and to talk with other family members affected.

Wills

It is important to write a will if you have a family member with reduced capacity or some other type of disability. You need to consider the provision you want to make for the person you care for, in addition to other people you may wish to provide for. If you do not make a will, the law requires that your estate be dealt with in a specific way – which may be contrary to your wishes. You may decide not to include the person you care for in your will and rely on other beneficiaries to support them, though this can also be problematic.

Before writing your will:

• List what you own including assets and liabilities and their monetary value
• Think about who you want to benefit from your will and what you would like to give them
• Identify who you would like to be the executors of your will.

What are Trusts?

A trust is a way of looking after assets (money, investments, land or buildings) for people. It is a legal arrangement where one or more ‘trustees’ are made legally responsible for managing the assets in trust. A trust can be set up in your lifetime or in your will, and is one of the best ways to make financial provision for a person whose main income is state benefits.

There are several types of UK family trusts, and the one generally recommended is called a Discretionary Trust. The money is handed over to trustees who have discretion about how to use the income of the trust, and sometimes the capital. Trustees should be people you can rely on who are happy to undertake the role. Trustees can be professionals, such as solicitors or banks, family members or friends, or a combination of the two.