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Rethink Trust Corporation

Rethink Trust Corporation

Setting up a trust for your loved one

Peace of mind for the people you love most

Many carers of people with mental illness worry that when they die, the person they care for may struggle to manage an inheritance - or that their money could be at risk from third parties, or affect their eligibility for means-tested benefits.

Rethink Mental Illness wants to help families in this situation and as a result created the Rethink Trust Corporation. This page will explain how the service works, who is responsible for what, and how to get started.

Three organisations, one joined-up service

It helps to understand how the service is structured, because three separate organisations collaborate to make it work for you.

Rethink Mental Illness is the UK's leading charity for people severely affected by mental illness. We are the starting point for anyone interested in setting up a trust. We publicise the service, answer your initial questions, and make sure you are connected to the right people. Throughout the life of your trust, we will always be here for you if you or your loved one needs general information or advice, and we are always interested in hearing how the service is working for you and your family.

Rethink Trust Corporation (RTC) is a non-profit owned subsidiary of Rethink Mental Illness, established specifically to act as the professional trustee for trust funds set up under this scheme. It is governed by an independent voluntary Board of Directors, people with direct personal and professional experience of mental illness, finance, and the law who bring both rigour and genuine empathy to their role. The RTC Board is responsible for the oversight of every trust, and crucially, its Directors participate directly in decisions about how, when and whether funds are released to a beneficiary. This is not a rubber-stamp process: when a beneficiary requests a payment, the directors consider their individual circumstances, needs, and the wishes of the person who set up the trust, before a decision is made.

Arcadia Trust Group are specialist legal and financial professionals who handle the day-to-day administration of the trusts including accounting, tax, and legal compliance. They are the operational engine of the service and are the people you and your beneficiary will most often be in direct contact with when it comes to the practicalities of managing a trust. Arcadia works closely with, and under the oversight of, the Rethink Trust Corporation Board.

Together, these three organisations provide a service that combines the values and knowledge of the mental health world with the expertise of qualified legal and financial professionals.

Some terms explained

A Trustee is a person who has legal and financial responsibility for a Trust under their direction
A beneficiary is the person who will receive the benefits (usually financial) from the Trust
The settlor is the person who has set up the trust, usually a family member or carer of the beneficiary

A unique service, because we understand mental illness

Unlike other trust providers, everyone involved in the governance of the Rethink Trust Corporation has a connection to mental illness whether personal, as a carer, or as a long-standing professional working in the field. This matters, because the decisions trustees make are not purely financial. They involve understanding how a person's mental health may affect their needs at any given time, and how best to act in their long-term interest.

We currently manage around 350 trusts. At the heart of everything we do is respect for the wishes of the person who created the trust, and a genuine commitment to the lifelong wellbeing of the beneficiary.

How does a trust actually work?

A trust is a legal arrangement that allows money or other assets to be managed on behalf of someone else. There are two main types of trust available through Rethink Trust Corporation: Discretionary Trusts and Vulnerable Person's Trusts. In both cases, Rethink Trust Corporation acts as the trustee, taking responsibility for managing the trust and making decisions in line with your wishes and in the beneficiary's best interests.

The main difference between the two types of trust is who they are designed to support and how they are taxed. Both offer professional management and can provide financial protection, but the right option will depend on the beneficiary's circumstances.

Discretionary Trust

A Discretionary Trust gives your chosen trustees the flexibility to decide how and when money or assets are shared with your beneficiaries. Rather than anyone having an automatic right to receive funds, the trustees can make decisions based on each person's needs and changing circumstances. This makes it a popular option for families who want to protect assets while allowing support to be tailored over time.

Discretionary Trusts can also help protect a beneficiary's entitlement to means-tested benefits, as they do not have a guaranteed right to the trust assets. However, they can be less tax-efficient than other types of trust, with higher rates of income and capital gains tax, as well as periodic inheritance tax charges.

Vulnerable Person's Trust

A Vulnerable Person's Trust is designed specifically to provide for someone who is disabled or otherwise meets certain legal criteria. Like a Discretionary Trust, it gives trustees flexibility in managing the assets, but it also offers valuable tax advantages that can make it more cost-effective over the long term.

Accessing the trust

Beneficiaries do not have an automatic entitlement to any specific amount or payment. Instead, they can contact the trust administrators at Arcadia Trust Group to make a request. That request is then considered by the Directors of the Rethink Trust Corporation, taking into account the beneficiary's circumstances and the wishes of the settlor (the person who created the trust), before a decision is made. Beneficiaries can get in touch by phone, email, or in writing, and will always be treated with care and respect.

Protecting your loved one's inheritance

Setting up a trust means your loved one will not be burdened with managing a potentially significant inheritance on their own. It also means:

If they are vulnerable, the inheritance can be protected from third parties who might seek to exploit them
The trust can be structured so that it does not affect eligibility for means-tested benefits
There is always a professional trustee with relevant knowledge overseeing their interests, not just at the time the trust is set up, but for the duration of their life

Our ongoing relationship with beneficiaries

At Rethink Mental Illness, we believe our responsibility does not end when a trust is established. We want to make sure that beneficiaries are connected to the wider support, information, and community that our charity provides. Living with a severe mental illness can be isolating, and we want every trust holder and their beneficiary to know that there is an organisation behind their trust that understands what that means and that is there for them, not only as a financial safeguard, but as a source of advice, information, and community.

We are committed to keeping in touch with the people whose lives are touched by the Rethink Trust Corporation and to making that relationship feel as open, clear, and supportive as possible.

How to get started

Rethink Mental Illness is your first point of contact. If you are interested in setting up a trust, or simply want to find out more, you can speak with Nicole and Geordine.

Call: 0207 840 3109
Email: RTC@rethink.org

You can also download our information booklet here.

Or contact the team at Arcadia Trust Group who manage the day-to-day running of the service:

Call: 01458 258841
Email: trusts@rethinktrustcorporation.com

A trust costs £500 + VAT to set up. You will need to provide proof of identification for all parties in order to comply with Money Laundering Regulations.

Frequently asked questions

The Rethink Trust Corporation acts as the professional trustee for all trusts set up under this scheme. Its Board of Directors who have personal and professional experience of mental illness are actively involved in decisions about releasing funds to beneficiaries. When a beneficiary makes a request, it is reviewed by the RTC directors alongside the Arcadia Trust Group team, with reference to the beneficiary's circumstances and the wishes of the person who created the trust.
Arcadia Trust Group handles the accounting, tax, legal, and administrative aspects of every trust. One of Arcadia's partners, Steven Howells, has worked with the Rethink Trust Corporation for many years and has an in-depth knowledge of both trust law and the complexities of mental illness. For investment, the majority of trust portfolios are managed by Rathbones, alongside other financial advisors as appropriate to individual circumstances.
No. The duty of the trustee is limited to managing and distributing the trust fund in accordance with the terms of the trust. Trustees look after the money; they do not act as personal carers or support workers. However, as a Rethink Mental Illness initiative, we want every beneficiary to feel connected to wider support and we will always point people towards appropriate help if they need it.
When assets from your estate pass into the trust, Arcadia Trust Group will contact your beneficiary directly to introduce themselves and explain how to make requests. Beneficiaries can contact the team by phone, email, or in writing. Their request will be considered by the directors of the Rethink Trust Corporation, who will make a decision based on the beneficiary's circumstances and your original wishes.
This is something we encourage families to think about when the trust is first established.

If the beneficiary dies before the person who created the trust (the settlor), the remaining funds can usually be dealt with in accordance with the settlor's wishes. This may include returning funds to the settlor, passing them to other family members, or making alternative arrangements agreed with the trustees.

If the beneficiary and settlor have both died, any funds remaining in the trust will be distributed in line with the trust terms, the settlor's wishes and any relevant provisions contained in their will. Many families choose to leave any remaining funds to relatives or other loved ones, while some decide to leave a gift to a charity whose work is important to them.

As part of the trust planning process, we can discuss the options available and help ensure that your wishes are clearly recorded. Some families choose to include Rethink Mental Illness as a beneficiary of any residual funds, helping to support future generations of people affected by severe mental illness.
Robert Banner OBE – Chairman (born 1942)
Robert is an Australian Chartered Accountant and director and shareholder of a number of private companies in the UK, Europe and the USA. A former trustee and Chair of Rethink Mental Illness, he has also served on the boards of several other charities and has personal experience of caring for a family member with mental illness.

Ian Cuddington – Director (born 1980)
After studying Chemistry at Oxford University, Ian joined Rolls-Royce, where he is now Director of Economic Development, leading on global public investment. He is a member of the ADS Council and the Aerospace Growth Partnership Board. Mental illness has affected several people close to him, including family members.

Angela Gillibrand – Director (born 1949)
Angela read at Oxford University before becoming an investment analyst, followed by an MBA and senior roles in finance including at Burmah Oil and Cranfield University. Since 2003 she has combined non-executive roles in the public and not-for-profit sectors with charity trusteeships and a family farming and property business.

Barrie Gray – Director (born 1954)
A Chartered Engineer and former Senior Officer in the Royal Air Force, Barrie has served on commercial boards and now runs his own consultancy. He cares for a close family member with mental illness and has been a director of the RTC since 2010.

George Hook – Director (born 1952)
George is a retired accountant with over 30 years' experience in internal audit and risk management, gained in senior roles in retail banking and local government. He joined the RTC Board in 2016, became Treasurer in 2017, and Vice-Chair in 2020.

Chitra Khatri – Director (born 1985)
An investment professional at J.P. Morgan Asset Management in London, Chitra specialises in advising both for-profit and non-profit institutions. She holds a master's degree in economics from Mumbai University and is a CFA charterholder, with a strong commitment to financial inclusivity and community.

Tod Merson – Director (born 1954)
A former farmer turned agricultural lawyer, Tod has extensive experience as a trustee for family trusts and a large estate in Devon. He volunteers with the Farming Community Network, which frequently involves supporting people with mental health difficulties.

Mark West – Director (born 1944)
Mark practised as a solicitor and barrister in Bristol and London, specialising in property, with experience in Court of Protection work. He has 25 years' experience as a Recorder of the Crown Court and is a CEDR-qualified mediator.