Trust account for Disabled Person

Trusts Discussion
1

I have just set up a disabled persons trust for my brother. Myself and my partner are the trustees. I am having great difficulty in finding somewhere (bank or building society) that can set up a trust bank account that we can start putting money into. Please can anyone advise? Thank you"

2

Adrienne

  1. ​Cater Allen bank - via a solicitor or financial advisor.

  2. Metro bank directly

  3. Simpson Financial will also act for you to set up a bank account and make a separate one off charge.

3

Adrienne

  1. ​Cater Allen bank - via a solicitor or financial advisor.
  2. Metro bank directly
  3. Simpson Financial will also act for you to set up a bank account and make a separate one off charge.
4

I can assist. Feel free to direct message me.

5

I think Skipton Building Society may be able to help too.

6

Thanks so much. I have approached Skipton but they require a minimum £10k to set up the account and the account can’t go below this figure. This doesn’t meet really feel right for us as that £10K essentially becomes a fee as that money won’t be able to be used to help my brother during his lifetime. Ideally I am looking for somewhere my parents can leave some money (probably £20-£30K) that Trustees can access for expenditure his care and benefits don’t cover to increase quality of life. He suffered a brain injury at the age of 37. Any thoughts? I assume Metro has a similar minimum amount?

7

Metro bank’s summary of the trust account terms is on their website but I won’t be able to read it until I get new glasses!

8

There is another post on this site saying Dudley Building Society has a lower balance requirement for trust accounts.