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The Trustee
Overview
Paul and Karen's son Michael (now aged 19) was injured in a traffic accident 12 years ago and was awarded compensation which is now held within a trust of which they are trustees.
Michael is confined to a wheelchair and his mental functions are also impaired as a result of the accident. It is not expected that he will ever be able to live independently and so the trust capital must be able to sustain his expenditure needs for the remainder of his life; it is not considered that this will be other than normal for someone of his age.
Bloomsbury thoughts
"…those index funds that are very low-cost….are investor-friendly by definition and are the best selection for most of those who wish to own equities."Warren Buffett, Chairman of Berkshire Hathaway,” 2003
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