Mencap Trust

pollyanna3 2018-12-03 11:31:01 UTC #1

I have just set up a Trust with Mencap, changing my will to this effect. I act as Deputy in respect of my daughter’s finances/property… Once the Trust is activated, does she no longer need to have a Deputy in this regard?

Wills and trusts - advice and support

KatherineMiller 2018-12-07 09:35:48 UTC #2

Dear pollyanna3

You may still need to act as a Deputy for your daughter if she continues to have assets in her name that need to be managed. Your daughter’s assets cannot be managed by the Trustees as they do not form part of the Trust Fund.

Any assets that are held in the Trust will be managed by the Trustees. You have said that you have changed your Will so I am assuming that you have left some of your estate to the Trust on your death. These assets will therefore be managed by the Trustees at that time.

I hope that answers your query but please let me know if you have any further questions.

Kind regards

Katherine

pollyanna3 2018-12-08 08:22:29 UTC #3

Thank you for your advice Katherine.

In respect of my daughter’s assets, she ‘owns’ half of the house we live in. However, we plan to move in the next 12 months and , if the Court of Protection agree, is it better to place her share of the house in Trust with Mencap so everything can be managed together?

I just want to do what is best to secure my daughter’s financial future.

KatherineMiller 2018-12-11 09:56:58 UTC #4

Hi pollyanna3

As you mention, an application will need to be made to the Court of Protection to deal with your daughter’s half share of the house. Any application will need to be considered carefully to determine what is in your daughter’s best interests.

There are a number of issues that need to be considered before deciding whether this is an appropriate option for your daughter. I would recommend that independent legal advice is obtained to review the options before an application is made to the Court of Protection.

The Mencap Wills and Trusts team can provide you with a list of legal professionals for your area who may be able to assist. The team can be contacted on 0207 696 6925.

Kind regards

Katherine

pollyanna3 2018-12-11 10:56:53 UTC #5

Many thanks for this information Katherine, I will seek legal advice on this matter.

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