What is a Vulnerable Person Trust?

A Vulnerable Person Trust is a type of trust that is designed to protect the assets of individuals who are unable to manage their own affairs due to a physical or mental disability, or other vulnerability. The trust is set up to hold assets on behalf of the vulnerable person, and the assets in the trust are protected from creditors and lawsuits. The trust can also be used to provide for the ongoing care and support of the vulnerable person, and can be structured to provide for the payment of medical expenses, living expenses, and other needs. The trust can also be used to manage the assets to ensure that they are used for the benefit of the vulnerable person, rather than being squandered or lost. Additionally, the trustee is typically appointed to act in the best interest of the vulnerable person, which means that the trustee is expected to consider the vulnerable person’s current and future needs, as well as the wishes of the individual.