My son is on a Disability Pension and I want to invest money for him.
May 13, 2008 by Josie Kay · Leave a Comment
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Q. I have a son aged 18 who has a disability and have just been arranging to set up a Special Disability trust via my will. I believe that Income resulting from this will not affect his disability pension.
If I were to invest some money for him now, I am wondering if there is an option that would have less impact on his disability pension now. Is it best to have an investment in my name rather than his so that when I die that money goes into his trust fund.
Josie’s answer: As you are probably aware, the intention of a special disability trusts is encourage families to make their own arrangements for family members with a severe disability.
It is great to see the Government acknowledging the contribution carers of disabled people are making to our community.
A big advantage of establishing one is that the ordinary Centrelink means test rules do not apply.
Most importantly, the trust must be established for the sole purpose of providing care and accommodation for a person with a severe disability. Read more
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