Protecting Vulnerable Beneficiaries in Estate Planning

When engaging in Estate Planning, it is important to consider how to protect a vulnerable beneficiary who may be unable to manage their own affairs. This may include a beneficiary with a physical or mental disability, advanced age, addiction, or difficulty managing their finances.

A Protective Trust is an effective Estate Planning tool which may safeguard the financial future of a vulnerable beneficiary. Instead of leaving assets directly to the vulnerable beneficiary, which may be difficult for them to manage, a Protective Trust appoints an independent trustee who will oversee the vulnerable beneficiary’s inheritance. The trustee ensures that the funds are distributed responsibility over time to the vulnerable beneficiary and helps to prevent the vulnerable beneficiary from making poor financial decisions or exploitation by others.

A Protective Trust may set specific conditions within the trust. For example, funds may be released when certain milestones are reached. This adds an extra layer of support and ensures that the inheritance is used to enhance the vulnerable beneficiary’s quality of life.

Estate Planning goes beyond simply drafting a Will – it is about ensuring your vulnerable beneficiary is protected and your wishes are respected. By working with an experienced Estate Planning lawyer, you can create a plan that gives you peace of mind, knowing your vulnerable beneficiary will be cared for in the way you intend.

For personalised advice on protecting a vulnerable beneficiary, we are here to guide you through every step of the Estate Planning process, making sure you feel supported and confident in your decisions.