Hi,
I need a create a Will for myself and spouse. We are in our 50’s. We have 2 children. One child is on the autism spectrum and is in receipt of disability allowance. She lives at home and saves her allowance. The future is uncertain, if she would be able to hold down a job or not. Assuming she isn’t or has a part time low stress job supported by welfare payments. She will be means tested her whole working life. She might not be able to save through a work pension scheme because of lack of employment or employer’s share of salary. That’s the attraction of creating the discretionary trust now (in my opinion). I could transfer her savings into the trust. I know she can save up to 50k without affecting her welfare. However, I’m thinking long term saving money over 30 to 40 years. Would you advise me to create a discretionary will now or in Will?…….Thank you
I need a create a Will for myself and spouse. We are in our 50’s. We have 2 children. One child is on the autism spectrum and is in receipt of disability allowance. She lives at home and saves her allowance. The future is uncertain, if she would be able to hold down a job or not. Assuming she isn’t or has a part time low stress job supported by welfare payments. She will be means tested her whole working life. She might not be able to save through a work pension scheme because of lack of employment or employer’s share of salary. That’s the attraction of creating the discretionary trust now (in my opinion). I could transfer her savings into the trust. I know she can save up to 50k without affecting her welfare. However, I’m thinking long term saving money over 30 to 40 years. Would you advise me to create a discretionary will now or in Will?…….Thank you