Planning Ahead: Why Parents of Children with Special Needs Should Consider a Trust

For many families of children with special educational needs and disabilities (SEND), the transition from children's services to adult social care marks one of the most significant milestones in their child's life. While much attention is understandably focused on education, healthcare, and support arrangements, there is another vital aspect of planning that is often overlooked: protecting your child's financial future.

For parents, this can be an ideal time to review existing legal arrangements and ensure that plans are in place for the future, particularly if they are concerned about who will care for their child when they are no longer able to do so.

Why Leaving an Inheritance Directly May Not Be the Best Option

Leaving money directly to a child with additional needs may have unintended consequences, including affecting entitlement to certain means-tested benefits or creating difficulties if they are unable to manage their finances independently.

How a Trust can help

A Trust can provide an effective way to protect assets while ensuring funds are available to enhance a child's quality of life. Trustees can manage the assets on the beneficiary's behalf, using them to meet individual needs such as specialist equipment, therapies, education or additional care, while helping to safeguard their long-term financial security.

Parents should also review their Wills to ensure their estate planning reflects their wishes and provides appropriate protection for their child. Choosing suitable trustees and considering future decision-making arrangements, including issues relating to mental capacity, are equally important steps in planning ahead.

Every family's circumstances are different, and the most appropriate Trust will depend on the child's individual needs, the family’s financial circumstances and wider estate planning objectives. Seeking specialist legal advice can help families put in place the right arrangements, providing peace of mind that their loved one will be cared for and financially protected in the future.

Our Private Client team advises families on all aspects of future planning for vulnerable beneficiaries, including the preparation of specialist Trusts, Wills, estate planning, Court of Protection matters, and succession planning.

Contact Sophie Wales for advice in relation to Trusts, Wills and estate planning:  01926 491181 or email pcnewenquiries@moore-tibbits.co.uk. 

Disclaimer: News articles may have been partially produced using AI