Who Should Be the Trustee of My Child’s Disability Trust in BC?
Onyx Law Group · Vancouver, British Columbia
It depends on your child’s age and needs. A parent or guardian often acts while the child is young and can carry on if a lasting disability means the adult child can’t manage money. As parents get older, they should name alternates, such as a responsible sibling, another relative or a trust company.
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Full transcript
Who should be the trustee of my child’s disability trust? This answer will greatly depend on the age of your child. If your child is young and is a minor and you have the capability of managing your child’s trust, then a parent or guardian should do it and it might save some money as well. When the child is an adult, some things to think about is if this is a lasting disability that prevents the child for managing their own funds.
The parent can continue to manage and administer the trust, but as the parent ages the parent should think about alternate trustees. That might be a sibling of the child who is a responsible adult, other relatives, uncles or aunts, and in other cases it might be prudent to hire a professional trustee. The trust company is hopefully going to last many, many years, decades, centuries, and so they will always be around to help administer your child’s trust.
General information, not legal advice.
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