It may happen that one or more of the beneficiaries of your Will can be classed as Vulnerable. This is usually someone who is registered as disabled (or would be if an adult) or is a minor who has lost their parents.It could be a person who has lost the ability to manage their own affairs.
If you wish to provide for them in some way or other after your death then a Vulnerable Beneficiary Trust Will can provide a protective shelter for your property and assets for this purpose
Such a trust in your Will can give someone an emergency fundfor when they need a little extra. It can protect the inheritance of the vulnerable person so that others do not take it from them. It creates a pot of assets that your chosen Trustees can use to support the vulnerable person, to ensure they have a good quality of life, and to provide luxuries that they may not otherwise receive.
Assets placed in such a Trust are not means tested for state benefits and also if your principal private residence is held in trust for the benefit of one of your descendants the new Residence Nil Rate Band can still be elected for inheritance tax purposes.
It is advisable to appoint up to four Trustees to be responsible to manage the Trust’s assets after your death and for making decisions regarding the needs of the vulnerable person.
You can see therefore the many advantages of introducing this form of Trust into your Will.