Planning the future for children and young adults who may never achieve capacity
- Parent carers need to plan ahead regarding their property.
- It is best to direct it into a disability trust to most benefit the child.
- If an adult in care receives an inheritance the funds will be used for care.
- If the money goes into a trust it can be kept to fund special expenditure for the adult.
- There are two main options for setting up such trusts.
- These are 1. Set up the trust now 2. Set up the trust in a will on your death.
- There are advantages and disadvantages for either approach - each case is different.
- Parent carers should take early legal advice on this.
- Monies may be lost to the adult due to lack of forward planning.