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Incapacity through immaturity, incompetence, inability, undue influence and more

The Protective shield of a Family Trust may also be applied in other cases where a Settlor believes it is going to be required. You would do that when you believe that your personal situation is such that attention should be applied to this aspect of care for your family or for those close to you. It may apply as follows:

  • Such protection should apply to yourself when you become aware that your abilities to look after yourself are starting to falter or may one day diminish due to diagnosed illness or incapacity or old age ailments.  In many cases where we are diagnosed with a serious illness we can give an accurate prognosis as to how long our abilities to administer will remain intact within margins of years. That allows you to make preparations for the future to seek professional advice and support of trusted family and friends as trustees of a Family Trust.
  • In many cases where one of the spouses is of higher age than the partner or when he or she deals with all money matters in the relationship there is concern. The one who deals with these matters may wish to ensure that the remaining spouse is looked after.  You may wish to ensure that no misuse is made of those inabilities or that he or she will not be influenced by new partners who could act against your remaining partner's interest or the interests of your remaining family members or favourite Charity.
  • You can also set up financial arrangements, which provide for the welfare of your remaining spouse, after you have become incapacitated or when you have past away.  You can do so so through your Family Trust, and thus prevent that your beloved partner falls foul of over-eager State servants, who could deny them their rightful entitlements by imposing strict and non-discretionary Income and Asset testing procedures.
  • There are are also cases where it is already known to you that a possible beneficiary of your Family Trust is incompetent to materially manage their own affairs. Your family beneficiaries may  also be too young or too immature  or even suffer from mental or physical disabilities to run their own affairs. There are  also cases where your children may be susceptible to the influences of others close to them.  They may  be exploited  or influenced  in undesirable ways.  In all of the above situations you can make  arrangements through your Family Trust to protect them. 

Contact us to discuss your family trust requirements.
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