Parents of children with learning difficulties often share one concern: How can I provide for my child come the day when I am no longer around?
It is perfectly natural to have this concern. Most parents worry about how they can ensure that their child has the same financial provision that they, as parents, have been able to provide for their child during their lifetime. They worry about how they can best ensure that any legacy they leave behind is used effectively and sensibly for the benefit of their children who, due to their learning disabilities, are vulnerable members of our society.
Many parents are not aware of the options they have in order to provide for their children with learning disabilities. One such option is creation of a “Discretionary Trust”, either in their lifetime or as a provision in their Will.
In an attempt to spread the word about Discretionary Trusts, Paradigm, a national development agency working with Generate and the Brandon Trust, have organised four workshops for people with learning disabilities, families and supporters in Wandsworth; one of the workshops; “Planning for the Future”, took place at The Bridge, Falcon Mews in Balham on Thursday 9th April.
Prue Abrahams and Amaya Huntly, solicitors in our Wills, Probate & Trusts department were delighted to participate in this workshop, providing a presentation on what Discretionary Trusts are, how they can help parents with children who have learning disabilities plan for the future, and what the benefits and possible pitfalls are of setting up such a trust.
Prue Abrahams then concluded the presentation with a “Questions and Answers” session, during which parents at the workshop had the opportunity to directly ask a solicitor who specialises in this area queries about how Discretionary Trusts work, what their implications are, and what the alternatives would be.
Also at the talk was the Director of the Mencap Trustee Company Limited, who manages many Discretionary Trusts for adults and children with learning disabilities. More information on the services they provide can be found on their website: Mencap Trust Company Limited.
Other Workshops will follow this one, and for more details you can see the leaflet here: Community Workshops in Wandsworth.
At Hanne & Co, we are dedicated to playing our part in the local community, part of which involves raising awareness of the legal issues or options available about which many people may not know. If you are looking to plan ahead for you, your family, and for your children with learning disabilities, and wish to seek legal advice on this regard, please do not hesitate to contact our Wills, Probate & Trusts department where one of our solicitors will be happy to assist you.