Discretionary Trusts

TonkaTom

Does anyone know anything about discretionary trusts?

I am divorced and have children in private education. Should I die I want to ensure that my children's school and university fees are paid for.

There won't be an enormous sum, it's unlikely to incur inheritance tax, but it will be more than enough to pay for the rest of their education. I don't really want them to blow the remainder on shoes and Caribbean holidays. I'd like the remainder wisely invested and to pay for their children's education.

Is this possible?


Regards

LOST

you should look into Accumulation and Maintenance trust which are a form of discretionary trusts setup entirely for the welfare of children on their maintenance and their education.

Their is an age limit to which the trusts do this to - can't remember off the top of my head