I'm looking for information on the best type of trust to set up for a disabled person. I want to ensure their financial security and well-being, and I need advice on the most suitable trust option.
A Discretionary Trust serves as an optimal arrangement for catering to the needs of individuals with disabilities. Its primary advantage lies in the protection it offers against potential claims from governmental entities.
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RubyGliderSat Oct 19 2024
Unlike other forms of financial arrangements, the assets held within a Discretionary Trust cannot be seized by the State or Local Authority. This ensures that the funds intended for the disabled individual's well-being remain untouched and available for their exclusive use.
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RiderWhisperSat Oct 19 2024
Furthermore, these assets are not considered part of the disabled person's personal estate. This distinction is crucial as it safeguards the individual's eligibility for government benefits and aids, which might otherwise be affected by a significant increase in their assets.
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ValentinoFri Oct 18 2024
The discretion over the management and distribution of trust assets rests solely with the trustees. This arrangement allows for flexibility and tailored support, ensuring that the funds are utilized in the best interests of the beneficiary.
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CaterinaFri Oct 18 2024
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