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Vulnerable Person Trusts

These trusts are used to put assets under the control of Trustees for beneficiaries who are mentally or physically disabled or for a child who is under the age of 18 years and has lost a parent through death.

These trusts are treated differently from other trusts as they qualify for special tax treatment for income tax, capital gains tax and inheritance tax. However, in order to qualify for such special treatment the ‘vulnerable person’ who is the main beneficiary must receive all of the income from the trust, or at least no one else can receive the income.

These trusts can be created in a Will or under the rules of intestacy when a parent has died and there are children entitled to receive assets when they reach the age of 18 years. The holding of the assets in these trusts, until the children reach the age of 18, qualifies as a Vulnerable Person Trust provided that the children receive the income or no other beneficiaries can receive the income until the children reach the age of 18 years.

If you are a trustee, a beneficiary or thinking of setting up a trust, please contact Trudy Rogers on 01635 569670 or