Individuals with a mentally or physically challenged family member face unique estate planning issues. Few families have the resources to completely fund their dependant’s long-term care and rely on government supplementary programs. Gifting assets directly to your dependant, through your will, can jeopardize this supplement.
In this situation, a discretionary trust can allow you to provide for your dependant, without risking loss of benefits from government programs.
You may wish to consider establishing a Discretionary Trust if:
You have a mentally or physically challenged family member.
You do not have the resources to fully fund their long-term care and rely on government supplementary programs.
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