Personal management and spending plan
At Cairn Trust Management we are committed to delivering a high quality and personalised service. We start by getting to know our beneficiaries and the important people in their lives. Then we create a personal management and spending plan, and set regular reviews. The overarching aim of our planning process is to make sure we use funds in the short, medium and long term to improve the beneficiary's quality of life.
Our planning process takes into account:
- The beneficiary’s wishes, interests, dreams and aspirations
- The detailed information we get about the intended purpose of the trust when it is set up
- The financial, social, educational and other needs of the beneficiary in the short, medium and long term
- The beneficiary’s ability, age, health and care/support needs
- The views, thoughts and opinions of those close to the beneficiary
- Minimising any affect on means tested benefits
Our planning process also depends on the type of trust established. With some personal injury trusts the beneficiary might actually retain control over how funds are spent. However, with a discretionary trust, the trustees are required to make financial and spending decisions.