A Henson trust is a particular type of trust which gives the trustee absolute discretion over the trust’s assets. This form of trust can be useful in passing on an inheritance to people with poor financial management skills or to those with disabilities seeking to continue to collect government benefits. If you are looking to pass on assets to a person with disabilities or a person who is otherwise unable to manage their own finances, you may want to speak with a lawyer to determine whether a Henson trust is appropriate. To find a Henson trust lawyer, click here and select “Estate Law” as the area of law in which you need help.
A Henson trust can be established through a will or while a person is still alive.
Under a Henson trust, the trustee has the absolute discretion to determine the amount of income the beneficiary receives from the trust’s assets. In some cases, that amount may be nothing. Given the absolute discretion that the trustee has, a Henson trust is sometimes also referred to as an absolute discretion trust. Because of the trustee’s discretion as to the use of the trust’s assets and the beneficiary’s inability to access the assets without the consent of the trustee, the beneficiary may be able to continue to access government benefits.
Given the specific purpose of a Henson trust, it is best to speak to a lawyer to determine whether what you would like to do is legal. For more information on other forms of trusts, see Trust Lawyer.
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If you are looking for a Henson trust lawyer or law firm, click here and select “Estate Law” to find the lawyer that best suits your needs.