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Discretionary Trust

mumski

Hi All

So I am of an age to consider what happens to my adult ASC son when I die. I've done most of the homework and taken legal advice and it seems a Discretionary Trust is the way forward to protect our home and any savings of mine as he won't manage to cope without help.

My issue is that I have no one to ask to be a Trustee for this and although I can pay a legal service to deal with all the tax implications and even to be a Trustee themselves my son needs a local reliable person to also be a Trustee.

My question then, if anyone has any pointers, is whether there are charities or organisations that have any kind of service in this regard. 

Leaving a Will without a Trust set up opens my son to major disadvantage yet in the absence of anyone (family are not an option, friends do not want the responsibility) to work alongside him he will end up being liable for huge fees throughout for a legal service to oversee all the paperwork.

The legal service I have spoken with is happy to work with another Trustee on a minimal basis. 

Surely I can't be the first to be in this situation.

Any pointers wold be helpful. We live in Dorset and I can find nothing locally of any help at all.

Parents Reply
  • in reply to Suzanne Mod

    Thanks for this. I have been through all the basic info on wills and trusts. Yes, a trust seems to be the way to go but it is knowing/finding a suitable trustee that is the issue. Apart from one organisation mentioned in another post there seems to be noone else who offers this kind of service without exceptional costs and caveats.

    I have tried to get hold of a call back from one of your solicitors but see there is a 4 month wait for this. 

    Thanks anyway for the thought.

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