Glen Miles
Partner, Head of Vulnerable People

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Special interest trusts

Vulnerable People

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Glen Miles
Partner, Head of Vulnerable People

glen.miles@asb-law.com

Special interest trusts

Vulnerable beneficiary trusts guide

A trust is a tool that can be used in many circumstances to protect assets or minimise tax.  Their terms and flexibility can vary significantly, and a trust can be specifically tailored to meet the needs of vulnerable beneficiaries.

For example, you might use a trust to:

  • hold an inheritance for a person with a learning or other disability to provide additional support beyond the basic care provided by the State to enhance life
  • Personal injury trustsprotect a personal injury award from care costs, or to avoid the loss of means-tested benefits 
  • avoid assets being used to provide care, or to fund enhanced levels of care from third-party providers
  • avoid the need for a Court of Protection Deputy or Lasting Power of Attorney to manage an individual’s assets

Whilst HMRC recognises a vulnerable person’s trust status, the choice of trust, its tax treatment and the technical jargon make this area a minefield to negotiate without proper guidance.  We regularly advise on the alternatives available and can help to prepare a trust that accurately reflects your wishes.

You’ll find more information in our Guide to Personal Injury Trusts and Trusts for Vulnerable Beneficiaries.

Glen Miles, Partner, Head of Vulnerable People, Private ClientFor more information on special interest trusts and to start a conversation on how we can help please contact Glen Miles, Head of Vulnerable People (Partner, Private Client).

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