As a Financial Advisor I have seen many clients receive poor advice when it comes to family protection. A family with a child that has a disability, it is very important to think how and who will manage when the child property and financial affairs when you are gone.

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Most families that I come across simply have a life insurance policy to pay out a large sum of money – however this can be a very bad idea.

 

If you have a child that inherits from the will directly, their entitlement to any means tested benefits they receive could be affected. 

 

A disabled person may be unable to manage a large sum of money.

 

They could might be spend on other matters. 

 

If the disabled person also lacks mental capacity, inherited outright and did not have a Property and Financial Affairs LPA, it is likely that an application would have to be made to the Court of Protection to appoint a Deputy so that the inheritance can be managed. This is a lengthy and expensive process and incurs ongoing costs and should be avoided

Lincoln Estate Planning Solutions Ltd will help create a disabled persons trust to help protect your child’s future and create a trust that is dedicated to a family member that has a disability. We can also help with the Lasting Powers of Attorneys.