Power of Attorney

Sadly, there are occasions where one suddenly become mentally incapacitated – possibly as a result of a stroke and when it does become all apparent that help is needed, it is often too late.

In these circumstances, we can assist by making an application to the Court of Protection for a Deputyship – possibly in favour of a trusted family member or a close friend, or another professional.

A Trust for Vulnerable Beneficiaries can be set up for one who is physically or mentally disabled, or for someone under the age of 18 whose parent has died.

In view of this, you may be concerned that people may take financial advantage of him/her after your death; or that they may spend their inheritance unwisely. In other circumstances, the beneficiary might be in receipt of means-tested state benefits which could be at risk following an outright inheritance, or they could be affected by relationship problems that make such an inheritance inappropriate.

With these types of trusts, trustees are able to claim special treatment for capital gains taxes and income taxes if it is considered to be a “Qualifying Trust.” A Qualifying Trust is a type of trust where the person who creates it does not receive any benefit from it.