As parents or grandparents of a child with autism, it is natural to worry about their future, especially regarding their care and financial security, after you are no longer able to provide for them.
At our firm, we understand these concerns and are committed to helping you plan for your loved one’s future.
By making a will and considering various options, you can ensure that someone you trust will look after their needs.
Understanding Your Concerns
When thinking about providing for your autistic child after death, several key questions may arise:
- Can I leave gifts in my will to my autistic relative if they cannot manage their financial affairs?
- Is it better to leave money to another relative with the hope they will care for my autistic child?
- How will an inheritance affect any means-tested benefits they receive?
These concerns deserve careful consideration. Our Wills, Trusts and Probate Solicitors are here to guide you through these important decisions.
Planning for Your Child’s Future
Appointing a Guardian
If your child is under 18, one of the first steps should be to name a guardian in your will. This person will take on the responsibility of caring for your child if you pass away. It is crucial to choose someone who is trustworthy, understands your child’s needs and can provide the necessary support.
Letters of Wishes
In addition to appointing a guardian, you may wish to include a letter of wishes. This document can outline your preferences for your child’s care, education, and lifestyle. While not legally binding, it serves as a valuable guide for the executors of the will and the guardian.
Setting Up a Trust
One of the most effective ways to provide for your child is by establishing a trust. This can be done during your lifetime or through your will. Trusts offer a structured way to manage your assets for the benefit of your child, ensuring they receive the care and support they need.
Types of Trusts to Consider
Discretionary Trust
This flexible trust allows trustees to decide how and when to distribute funds to beneficiaries, including your child. Because your child will not legally own the trust assets, these assets cannot be taken into account when your loved one is assessed for means-tested benefits. The trustees can assess your child’s circumstances over time, ensuring that distributions are appropriate and beneficial.
Disabled Person’s Trust
Specifically designed for individuals who meet the government’s definition of disability, this trust offers favourable tax treatment and ensures that the assets are not counted towards means-tested benefits. The trustees have discretion over distributions, which can help maintain your child’s eligibility for support.
The Importance of Professional Advice
Choosing the right type of trust and understanding the implications of your decisions can be complex. We strongly recommend seeking professional advice to ensure that your arrangements align with your child’s needs and your financial situation. Our team is proud to be on the solicitor list for the National Autistic Society, reflecting our commitment to providing the very best support for families with neurodiverse children.
Addressing Potential Risks
Leaving a gift to a relative with the hope they will care for your autistic child is extremely risky. There is no legal obligation for that person to care for your child, and their circumstances may change over time, affecting their ability to provide care. If that person dies, what they have inherited from you shall pass according to the terms of their will or intestacy. This means that your child can potentially be left with nothing.
As previously explained, by establishing a trust, you can appoint a trustee who is legally bound to manage the assets for your child’s benefit, providing greater security and peace of mind.
Get in Touch
Planning for the future of your child with autism is a significant responsibility, but you do not have to face it alone. By making a will, appointing a guardian, and considering the establishment of a trust, you can ensure that your loved one is cared for and supported after your passing. Our firm is here to help you navigate these important decisions with empathy and expertise.
If you have any questions or would like to discuss your options further, please do not hesitate to contact our Wills, Trusts and Probate Solicitors. Together, we can create a plan that provides for your child’s future and gives you peace of mind.
You can contact our team by filling out our online contact form or give us a call on 0330 111 3131.