SECURING MONEY FOR MY DISABLED CHILD
2 years ago
I am 75 yr old widower and I have a 50 yr old daughter with learning disability. I have saved some savings to support her well being in future years. What legal options have I got to ensure my savings can be secured and used for her well being in future. I can have my 2 sons as joint custodian/care taker of this money to be spent for the well-being of my daughter/ expenses as my daughter is not mature enough to handle money matters. Any left over money to shared equally between my sons after life of my daughter.
Advocate Sinjari Bandyopadhyaya
Responded 2 years ago
A.It is better to appoint a neutral person as legal guardian for your daughter( having learning disability) by applying for the same before the Court of Law who after your death will look after your daughter doing expenditure from that monetary fund. Otherwise there will be the possibility that your sons may deprive your daughter from her livelihood and use that monetary fund for their own purpose.
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A.Dear Client,
You can create a special or supplemental trust for your specially abled daughter. Money can be put into trust through life insurance, investment or property and there is no such limit of putting money.
Thank You.
You can create a special or supplemental trust for your specially abled daughter. Money can be put into trust through life insurance, investment or property and there is no such limit of putting money.
Thank You.
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