Leaving money in your Will, or a trust, can be a way of supporting disabled people for years to come.<\/p>\n\n\n\n
If you have a member of your family is disabled, Wills and trusts are the best ways of making sure that, after you\u2019ve gone, any money, possessions or property you leave to your family member will be safe and secure for their lifetime.<\/p>\n\n\n\n
Another way you might choose to support disabled people in the future could be leaving money in your Will to a charitable organisation like Sense.<\/p>\n\n\n\n
This page covers why you should write a Will, what it should include, using solicitors, the different types of trusts, appointing trustees, how trusts work and why they are probably in your family member\u2019s best interests.<\/p>\n\n\n\n
This information is based on the law in England and Wales. <\/p>\n\n\n\n
If you are interested in leaving a gift to Sense, you can find more information here<\/a>.<\/p>\n\n\n\n On this page:<\/p>\n\n\n\n A Will is a legally binding document. By leaving a Will you can:<\/p>\n\n\n\n It\u2019s important to leave a Will. If you die without making a Will, this is known as \u201cdying intestate\u201d.<\/p>\n\n\n\n The rules of intestacy, whether or not you have children, will then apply to your estate. These vary depending on:<\/p>\n\n\n\n You should take into account:<\/p>\n\n\n\n No, you don\u2019t have to have a solicitor to write your Will. However, as a Will is a legal document, it needs to be written and signed correctly.<\/p>\n\n\n\n A poorly drafted Will can cost your estate thousands of pounds if there are arguments about your assets or the Will after you have died.<\/p>\n\n\n\n If you have a family member with complex needs and need a trust, you will need qualified assistance.<\/p>\n\n\n\n You could find a solicitor using the Law Society website<\/strong><\/a>, or by calling them on 020 7242 1222.<\/p>\n\n\n\n If you\u2019d like to leave a gift to Sense in your Will, you may wish to use the Sense Free Will Service<\/a><\/strong>. <\/p>\n\n\n\n A simple Will may cost a few hundred pounds, while one involving trusts<\/a>, overseas properties or tax planning can cost much more.<\/p>\n\n\n\n Always be clear with a solicitor exactly what you want them to do and check what their fees will be before you get them to do any work. Solicitors have a responsibility to be transparent and upfront about likely fees.<\/p>\n\n\n\n Leaving money or property to a disabled person isn’t always straightforward, especially if the person doesn’t have capacity to make decisions<\/a>.<\/p>\n\n\n\n For example, it can affect their means-tested benefits. <\/p>\n\n\n\n So, it\u2019s important to get expert advice.<\/p>\n\n\n\n One way round the complications of leaving money and property to your disabled family member with complex needs is to set up a trust.\u00a0<\/p>\n\n\n\n Inheritance tax is taken from your estate after you pass away and before gifts are given to the people named in your Will. Gifts to registered charities are usually exempt from inheritance tax and can help reduce any tax that may be due.<\/p>\n\n\n\n It\u2019s important to talk to a solicitor who understands your tax situation, and you can keep up to date on the latest information by visiting the HMRC website<\/strong><\/a>.<\/p>\n\n\n\n It isn\u2019t necessary to register your Will with any authority, but you should make sure it\u2019s kept in a safe place. <\/p>\n\n\n\n You should also let your executors know where it is so that they can find it easily. Most people ask the solicitor who drew up their Will to keep the original and give them a copy.<\/p>\n\n\n\n If you want to leave property or money to a disabled family member with complex needs, a trust is an effective way to:<\/p>\n\n\n\n A solicitor can help you to set up a trust and advise you on what to include in it.<\/p>\n\n\n\n Again, check with the solicitor what their fees will be for setting up a trust before you get them to do any work.<\/p>\n\n\n\n You can choose between two and four people as trustees to manage the money or property you are leaving to your family member with complex needs.<\/p>\n\n\n\n You can also say how you would like them to manage the trust.<\/p>\n\n\n\n Trustees can be: <\/p>\n\n\n\n Your solicitor will explain the types of trust to you in more detail and guide you to the right choice for you. These include:<\/p>\n\n\n\n A discretionary trust gives flexibility to use your assets (property and\/or money) as and when needed to meet the needs of your disabled family member with complex needs, without affecting means-tested benefits.\u00a0<\/p>\n\n\n\n In some situations, a disabled person\u2019s trust might be better to use if your family member with complex needs qualifies for this type of trust.\u00a0<\/p>\n\n\n\n They can be named as the principal beneficiary and the trustees can ensure the trust supports them. <\/p>\n\n\n\n The rules relating to a disabled person\u2019s trusts and taxation are complicated, so if you are considering one, talk to a solicitor first. <\/p>\n\n\n\n Putting a trust in your Will means it takes effect only after your death. For some types of assets such as pensions, death in service and life cover, this wouldn\u2019t work. <\/p>\n\n\n\n A lifetime trust is a type of trust you can create while you\u2019re still alive. It also gives you the flexibility of other people paying in. This could be a discretionary trust or a disabled person\u2019s trust. <\/p>\n\n\n\n Always take specialist advice from a solicitor before setting up a lifetime trust. <\/p>\n\n\n\n
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Wills<\/h2>\n\n\n\n
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Why should I write a Will?<\/h3>\n\n\n\n
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What should I include in my Will?<\/h3>\n\n\n\n
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Do I have to use a solicitor?<\/h3>\n\n\n\n
How do I find a solicitor?<\/strong><\/h3>\n\n\n\n
How much does a solicitor cost?<\/h3>\n\n\n\n
Can I leave money or my property to a disabled person?<\/h3>\n\n\n\n
What is inheritance tax and how does it affect my Will?<\/strong><\/h3>\n\n\n\n
Where should I keep my Will?<\/strong><\/h3>\n\n\n\n
Trusts<\/h2>\n\n\n\n
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Appointing trustees<\/h3>\n\n\n\n
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Types of trust<\/h3>\n\n\n\n
Discretionary trust<\/h4>\n\n\n\n
Disabled person\u2019s trust<\/h4>\n\n\n\n
Lifetime trust<\/h4>\n\n\n\n