If no specific Trusts have been created via a Will or if there is no Will and the parent dies Intestate, when a child reaches 18, they are quite free to spend (or squander) their inheritance.
Many people do not feel that this provision is suitable and therefore include a special and flexible Trust in their professionally drafted Wills.
Benefits of using a Children’s Trust
- You can place an age restriction on the inheritance (i.e. 21 or 25 years of age)
- Nominate Trustees who you are confident can manage the Trust until the children become of age
- Flexible. Should Trustees find it suitable, they can advance funds to the children prior to the set age of inheritance
- If you have disabled children, you can also make further long-term, secure financial provision for them
Contact us on 01803 873978 for further information on how we can help or complete the form below.