In this scenario, money you leave within a will is held for your desired beneficiaries in Trust. The trustee ensures that the wishes of your will are followed and that your beneficiary receives the money or assets in an appropriate manner. Having assets held by a Trustee has multiple benefits, which we discuss below.
What makes a VPT powerful?
Ensures their needs are paramount
Protects the individual
Comprehensive solutions
Provides peace of mind
Enables lifelong support
Long term support network
VPT FAQ's
Who would make a suitable Trustee?
Trustees are going to be the responsible party, managing the proceeds of the estate and deploying them for your beneficiaries needs and life. They should be someone who knows and cares about the beneficiary. They should also have the time and capacity to carry out their responsibilities over a lifetime.
Are there any Tax implications?
In some cases, however for a change, these are generally favourable. If a Trust meets the HMRC definition of a Disabled Persons Trust there are significant tax advanatages. Check out our guide for more detail.
What can a Trustee use the money for?
They have wide discretion. Everything from funding their care, purchasing or adapting property, education, training or therapy. Holidays and leisure activities can be arranged, plus a range of other supporting areas.
What does an Vulnerable Person Trust cost?
Typical Price Ranges
Vulnerable Persons Trust
£800 - £1499
Services levels vary, different providers offer full signing support and registration within the scope of their work.
Find out from your provider before committing to the work.
HMRC registration
£0 - £499
Registration itself bares no cost if you complete it yourself, however if you ask a firm to complete said registration on your behalf they will typically charge up to £499.