Inheritance

vax2002

They will come out of the woodwork to trick it out of the trustee's, men in shiny suits with big cars and even bigger promises telling tales of far away investments.
Best place for any cash in bricks and mortar , Property

Louisekate

Thank you Darkpool, my son is severely autistic, non-verbal and incontinent, he will never be able to hold down a job and I will become his full time carer when he leaves school, having worked all my adult life paying into the system, despite sleepless nights and coping with a disabled child; I think we should get what we are entitled to. Please bear in mind your comments can be very hurtful to families coping with disabled children who just want the best for them.

wriggly

I notice you use the abbreviation FA (Financial Advisor), not IFA (Independent Financial Advisor). Can you please clarify what status this person has?

For a long-term investment, I would expect a sensible portfolio to contain a mixture of assets, not 100% into just one product type. I'm not sure why deferring tax till later (the main reason for using offshore bonds) would be beneficial in this case.

My core suggestion - do not rush into any investment until you are sure it is in the best interests of your son and niece, not just in the best interests of an advisor.

greenface

Newly_retired wrote: »

My parents left money half to me and half in trust for my sister who is not capable of managing her financial affairs. Two family members are trustees and the investment was set up by an IFA. It produces a specific amount of annual income for my sister which is in line with her benefits. She is not deemed to possess the lump sum as it is invested with the trustees. One of the trustees is her daughter who has Power of Attorney for her so she is able to provide small sums for clothes, trips etc as required, without affecting her benefits and still being legal.

this is a great post and can be picked apart to suit your requirements but please take good legal advice and use your judgement well. You can protect your sons money without hitting his benifit entitlements legally . Get it in place asap as there will be changes comming through . AFAIK Are we looking at a big sum large sum or huge sum of money.

financialdoll

Hi

If you have some doubts about the advice you have been given, why don't you go and see a couple of local independent financial advisers in your area and see what they suggest? Most advisers offer an initial consultation free of charge and will be able to talk through the product wrapper and underlying investments.

Whether an offshore bond is appropriate will depend upon what type of Trust it is. Make sure you are 100% + confident and sure of the advice you have been given before you go ahead.