GillenMarkets

GillenMarkets is an independent investment advisory firm offering investment advisory services for personal, pension and corporate monies. Uniquely, the company also offers investment training courses for those who would like to learn more about the principles of sound investing, and a subscription-based newsletter/website service for those who would prefer to do the investing for themselves.

Contact details:

Tel:                        012871400

Email:                 [email protected]

Website:            www.gillenmarkets.com

Protecting Entitlement to State Benefits

A financial settlement could inadvertently disqualify a beneficiary from receiving state supports. Potentially, discretionary trusts may provide a useful means of safeguarding eligibility for means-tested benefits such as the disability allowance or a medical card.

A beneficiary does not have direct ownership of trust assets, therefore the capital held in the trust is generally excluded for means-testing purposes. However, any distributions from the trust may be assessed as income by the Department of Social Protection. By allowing trustees to control how and when funds are transferred for the beneficiary’s benefit, a discretionary trust may help preserve access to vital state supports while still providing financial security.

Discretionary Trusts

A discretionary trust is a flexible legal structure in which assets are transferred to trustees, who manage them for the benefit of one or more beneficiaries. Beneficiaries of a discretionary trust have no automatic right to income or capital. Instead, distributions are made at the discretion of the trustees, in line with the trust deed.

One of the key advantages of a discretionary trust is the protection it offers to vulnerable beneficiaries. Nevertheless, careful drafting is essential, and professional legal and tax advice should always be sought when setting up a trust. Trustees carry fiduciary responsibilities and must act honestly, impartially, and with due care in managing the trust.

The management of trust assets requires balancing financial prudence with the needs of beneficiaries. Engaging an impartial financial advisor can help ensure that the trust is administered responsibly and in the best interests of those it is designed to protect.

The management of trust assets is one of the central responsibilities of trustees and requires a careful balance between legal duties, financial prudence, and the needs of beneficiaries. This fiduciary responsibility means managing trust assets with honesty, impartiality, and due care. An impartial financial advisor can support trustees in managing the trust responsibly, but the fiduciary duty remains with the trustees.

GillenMarkets

GillenMarkets is an independent wealth management and advisory company. We aim to be the best at helping you as an investor, manage and safeguard your investments through our unparalleled service offerings. We are investment advisors, not product sellers. Our client-first ethos means that we are always positioned on the same side of the table as our clients, making informed decisions and plans, together.

We believe in empowering our clients through enabling access to insight, knowledge and the expertise of our team. We publish Ireland’s leading investment letter, and we share this resource with our investment clients. We place enormous value on education and regularly offer seminars and webinars which assist in understanding markets and sound investing principles. We also offer a dedicated wealth management service for those who would prefer to work with an experienced investment advisor for the management of their personal, pension or corporate monies.

Our fee structure aligns our interest with yours, which builds trust. There are no upfront fees, no early exit penalties, no ongoing dealing charges. We charge a transparent annual management fee which allows us to build deep, long-term relationships. We advise on the investment solutions that best meet the specific needs of each individual client. For further information please contact us by email at: [email protected]

A financial settlement could inadvertently disqualify a beneficiary from receiving state supports. Potentially, discretionary trusts may provide a useful means of safeguarding eligibility for means-tested benefits such as the disability allowance or a medical card.

A beneficiary does not have direct ownership of trust assets, therefore the capital held in the trust is generally excluded for means-testing purposes. However, any distributions from the trust may be assessed as income by the Department of Social Protection. By allowing trustees to control how and when funds are transferred for the beneficiary’s benefit, a discretionary trust may help preserve access to vital state supports while still providing financial security.

Discretionary Trusts

A discretionary trust is a flexible legal structure in which assets are transferred to trustees, who manage them for the benefit of one or more beneficiaries. Beneficiaries of a discretionary trust have no automatic right to income or capital. Instead, distributions are made at the discretion of the trustees, in line with the trust deed.

One of the key advantages of a discretionary trust is the protection it offers to vulnerable beneficiaries. Nevertheless, careful drafting is essential, and professional legal and tax advice should always be sought when setting up a trust. Trustees carry fiduciary responsibilities and must act honestly, impartially, and with due care in managing the trust.

The management of trust assets requires balancing financial prudence with the needs of beneficiaries. Engaging an impartial financial advisor can help ensure that the trust is administered responsibly and in the best interests of those it is designed to protect.

The management of trust assets is one of the central responsibilities of trustees and requires a careful balance between legal duties, financial prudence, and the needs of beneficiaries. This fiduciary responsibility means managing trust assets with honesty, impartiality, and due care. An impartial financial advisor can support trustees in managing the trust responsibly, but the fiduciary duty remains with the trustees.

GillenMarkets

GillenMarkets is an independent wealth management and advisory company. We aim to be the best at helping you as an investor, manage and safeguard your investments through our unparalleled service offerings. We are investment advisors, not product sellers. Our client-first ethos means that we are always positioned on the same side of the table as our clients, making informed decisions and plans, together.

We believe in empowering our clients through enabling access to insight, knowledge and the expertise of our team. We publish Ireland’s leading investment letter, and we share this resource with our investment clients. We place enormous value on education and regularly offer seminars and webinars which assist in understanding markets and sound investing principles. We also offer a dedicated wealth management service for those who would prefer to work with an experienced investment advisor for the management of their personal, pension or corporate monies.

Our fee structure aligns our interest with yours, which builds trust. There are no upfront fees, no early exit penalties, no ongoing dealing charges. We charge a transparent annual management fee which allows us to build deep, long-term relationships. We advise on the investment solutions that best meet the specific needs of each individual client. For further information please contact us by email at: [email protected]