How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Nicola-mod Your Own Question
Nicola-mod
Nicola-mod, Moderator
Category: Law
Satisfied Customers: 21
Experience:  Moderator
73944119
Type Your Law Question Here...
Nicola-mod is online now

can people on benefitshave discretionary trust with lawyer

Customer Question

can people on benefitshave discretionary trust with lawyers
Submitted: 4 years ago.
Category: Law
Expert:  Stuart J replied 4 years ago.
Thank you for your question here on Just answer. It is my pleasure to try and assist you with this today. Please bear with me if I need to ask for any further information from you in order for me to be able to advise you fully. My name is Law Denning and I am a practising solicitor. I have been an expert on this website in UK law since 2008. During that time, as you appreciate, I have answered thousands of questions from satisfied users on a variety of subjects.
Because we are all in practice with clients and court and other users, I might not always respond in minutes, particularly evenings and weekends. Please bear with me in that case. I will be online and off-line all day most weekdays and weekends.

Can you explain your situation a bit more please?
Customer: replied 4 years ago.

I am thinking of leaving a male friend monies in a region of £100,000 in a discretionary trust managed by lawyers when I die, he is 69 and he claims a lot of pension credits and housing benefits, is it possible to the lawer after my death to pass £16,000 now and again to him without affecting his pension and benefits until the trust fund is extinguished and how much do you anticipate the lawyers fees to be if it is kept in a simple high interest account.

Expert:  Stuart J replied 4 years ago.


He would have to declare the trust and the income for benefits
purposes and it is likely to reduce his benefits by the same amount.

The solicitors will charge about £200 per hour plus VAT for
administering the trust so it depends really, how many transactions there are
going through it as to how much they charge



I'm sorry, I appreciate that this is not the answer you wanted but
there is no point in me misleading you. I have a duty to advise you truthfully
and honestly, even if the answer is unfavourable



Does that answer the question? Can I assist further or answer any
specific queries?



If you have not done already, please don't forget to positively rate
my answer service even if it was not what you wanted to hear. You should now
see a series of buttons which enable you to rate my answer service formally.

If you don't rate it positively, then the site keep your deposit and I get 0
for my time. It is imperative that you give my answer a positive rating.

It doesn't give me, "a pat on the head", "good boy" (like ebay), it is my
livelihood!

If in ratings you feel that you expected more or it only helped a little,
please ask.

The thread does remain open for me to answer follow-up questions after rating
my answer service.

Rating doesn't close the enquiry at
all even though the site may give that impression. It remains open for you to
read and ask for further clarification.


Regards.



PS Experts on here are online and off-line all day each day and
weekends so please bear with me if I do not get back to you immediately.



PS. I use voice type, voice recognition typing because I only
type with two fingers and it would take me ages. Sometimes, a computer does not
hear me correctly and you will get an incoherent word. I do try to but
sometimes they slip through. I apologise therefore if anything doesn't make
sense. It is me losing it, not you. Just ask if anything is not clear please.







Expert:  Nicola-mod replied 4 years ago.
Hello,

Just a quick reminder, there is an unrated answer waiting for you here from the Professional.

If the Expert was helpful, rating their answer as satisfactory transfers your deposit to them – this is how the Expert is compensated.

To rate your answer, you can go to your question page, and click one of the five faces below your Expert's answer. Please be sure you are logged in with your username and password or you will not be able to view or rate your answer.

If you still need help with your question, please feel free to reply to the Expert on this question page. You may ask as many follow-up questions on the same question page as you need until you are satisfied.

Thank you,
Nicola