special trust type A
A trust can also be used effectively to provide financially for children with severe mental or physical disabilities and who, as a result of their disability, are unable to manage their own affairs. In a situation where a child has
Before setting up the trust, you will need to consider whether it should take the form of a testamentary or living trust. A living, or inter vivos, trust is set up during your lifetime using a trust deed as the
It is possible for the trust founder to set up an inter vivos trust to ensure that certain assets are protected for the benefit of family members through the generations. In such a situation, where the trustees are all beneficiaries
Depending on your circumstances, you may consider setting up a Special Trust Type A while you are still alive with your special needs child as the beneficiary to the trust. This type of trust is particularly effective when it comes
As a single parent, if you are unable to generate an income, you will not have a spouse or partner whose income you can fall back on. An income protection benefit is an excellent way of ensuring that you will
It is important to note that the beneficiary’s disability must be formally diagnosed by a medical practitioner, must have lasted for a period of more than 12 months, and must be considered irreversible in nature.
An alternative to appointing a Curator Bonis or Administrator is to set up a Special Trust Type A, which is a trust created solely for the benefit of a person with a mental or physical disability which prevents him from
