Wills and Trusts, Royal Mencap Society Seminar 2012

22 March 2013

The talk, called ‘Planning for the Future’ was predominantly aimed at parents and carers of a child (of any age) that have a learning disability and was designed to increase awareness and understanding of what is undoubtedly a complex and specialist area of law.

Numbers were in abundance for the successful event and Danny delivered informative and helpful advice to an audience who were only too willing to learn more about the best ways to protect their assets whilst ensuring that their loved ones receive the inheritance they require and deserve. 

Danny carefully highlighted the issues parents and carers need to consider because their child has a learning disability; from the dangers of leaving their child an inheritance outright, to potential claims being made against the estate due to a lack of provision in their Will for the child with a learning disability.

Regard was had to the consequences of leaving money to other family members to “look after” the child and whether any extended members of the family need to be aware of the potential issues involved when leaving a gift of money outright to the child concerned.

The points raised during the talk helped clarify which factors need to be taken into consideration when making a Will and gave food for thought as to who is best to take on the role and responsibility of Executor and Trustee.

The use of scenarios akin to the circumstances in which the majority of the families that were in attendance find themselves helped the audience relate, not only to the other families present around them, but to a subject that is so critically important to get right.

Danny also highlighted the rules of inheritance tax and income tax for parents and carers to consider. Of particular reference was why trusts should be created and how they can be used to provide protection not only for the parents’ assets but for the ongoing financial assistance of the child with the learning disability, whilst ensuring that the child’s eligibility for means tested benefits remains unaltered.

For more information on anything covered in this article or if you wish to discuss how best to plan for the future of your loved ones then contact our specialist team of Solicitors here at Gepp & Sons.