DISABLED BENEFICIARIES

Mrs Jones

Mrs Jones husband died quite suddenly and out of the blue in 2015, they have two children of school age her husband had life cover which paid off the mortgage and a separate life policy along with his pensions. I was introduced to Mrs Jones through a family friend. Mrs Jones is in her early 40s and works full time with a good salary. She explained that whilst her Husband was alive there planning goal was always to look after the children and give them a decent start in life, Mrs Jones explained that she still wanted that wish to be protected now the house was mortgage free and she had a lump sum invested. She had the existing mirror will in place. We spoke openly about the future and Mrs Jones wanted to make sure that whatever her future held she wanted the children to be financially secure but with guidance until aged 21, Her daughter suffers from severe anxiety as well and was concerned that if anything happened to her, her daughter would be potentially seriously affected, and potentially unable to make financial decisions straight away. I recommended the single persons beneficiary protection plan with well-chosen trustees, this would mean that whilst the children were under the age of 21 and if anything happened to her the estate would be directed into the trust, with the trustees having the ability to use capital as the children needed it IE to buy a first car, tuition fees etc. , and at the chosen age of 21 could choose to take the gift or leave it in the trust . As a secondary benefit if Mrs Jones was remarried at this point the assets are ring fenced for the children. This planning relieved her concerns about her children particularly her daughter not having to make immediate decisions.

"I have been very satisfied with all the advice given by David Garforth and would recommend him to anyone seeking financial advice."