Financial planning for different types of carers
By Robbie Lawther, 10 Jun 19
The slides below feature financial tips for different categories of carers from Quilter’s tax and financial planning expert Rachael Griffin
Child
About 13% are caring for a child that requires special care. These people might want to consider the following financial planning points:
• Trusts:
If you are caring for a child that will never be able to look after themselves it is a good idea to think about setting a up a trust for them. Depending on the type of trust you choose to us, this type of financial tool can enable you to decide how assets within the trust are distributed and to whom even after you die.
• Lifetime gifting:
Depending on circumstance it may also be useful to think about whether it is a good idea to start gifting through a child’s lifetime so that they have the maximum funds available for their caring needs later in life when you may not be around to give it to them.
Tags: Quilter
