What is a trust fund?
A trust
A Trust looks after money for a person or a group of people.
is a way of managing money, investments or property for a loved one. It protects these ‘assets’ so they can be made available for them in the future.
What is a trustee?
When you’re setting up a trust, you give the
responsibility
Responsibility is managing or being in charge of something.
for how the money and property are looked after and used to a named ‘trustee’. If your trust is with us, the trustee would be Mencap Trust Company. We manage the trust throughout your loved one’s life. All the decisions affecting how the trust is used and how the funds in the trust are invested will rest with us.
What types of trust do we offer at Mencap Trust Company?
There are many types of trust. We offer two, tailored to the needs of people with a
learning disability
A learning disability is to do with the way someone's brain works. It makes it harder for someone to learn, understand or do things.
or
autism
Autism is a disability. Autistic people find it difficult to understand what other people think and feel. They also find it difficult to tell people what they think and feel. Everyone with autism is different.
– a ‘discretionary trust’ and a ‘disabled person’s trust’.
What’s the difference between a discretionary trust and a disabled person’s trust?
The main difference between them is the way they're taxed. Not everyone is eligible for a disabled person’s trust – find out who is here. Or get in touch with our team who can answer any questions you have.
Do trusts affect benefits?
Setting up a trust with Mencap Trust Company – whether a
discretionary
Discretionary means it is up to somebody to decide if you get something.
trust or a disabled person’s trust – won’t affect any of the means-tested benefits your loved one is entitled to.
Can you leave a property in trust?
Yes, find out more about how that works here.
How do you set up a trust?
Watch a video or read about the six simple steps to setting up a trust.
How can Mencap Trust Company help?
Find out more about what we do at Mencap Trust Company and how we can help you with setting up a trust for your loved one.
How much does it cost to set up a trust?
We’re a not-for-profit
organisation
An organisation are a group of people who work together.
. Our fees cover our costs, and we keep them as low as we can. It costs £465 when setting up a trust. There are also fees for investing and managing your money and our support services. You don’t pay these until the trust is activated. Read about our current fees and what they cover.
What happens when a trust is up and running?
When the trust is up and running, one of our team visits your loved one in their home. They really get to know them – and what they need to live the life they want. We continue to work with your loved one and use their trust to make that happen. We regularly check in and visit them in their home and see if anything has changed, adjusting things if we need to. We regularly review whether the money is being invested in the most effective way to meet your loved one's needs. This will continue throughout their life.
What can a trust can be spent on?
The fund can be used to pay for anything that is in your loved ones interests so we are always looking for ways to support them to live a happy and healthy life. Read more about how we make decisions about how the money is used here.
Find out how a trust can help your family
You can call us on 020 7696 6932 or email info@mencaptrust.org.uk
We’re here to answer all your questions.
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