Trust funds - investment advice?

mekonite

My late mother-in-law set up two trust funds for my children, now aged 16 and 18. The trusts hold £30000 each and will end when they reach age 21. One of the trustees is the solicitor who drew up the will and the other is a family member who is anxious to ensure that the trust capital is invested to maximum advantage. It's quite a headache for her, especially given the current economic climate. Any investment advice and guidance on how best to manage such trusts gratefully received.

dunstonh

It's quite a headache for her, especially given the current economic climate.

In the scheme of things the current economic climate makes little difference. In any typical long term investment you get periods like this. In the 70s, 80s and 90s and now in the 2000s.

Any investment advice and guidance on how best to manage such trusts gratefully received.

The trustee has a legal responsibility to do what is best and be seen to do what is best. So, until now, who has been providing the advice and why are they no longer suitable? On the trust funds I have where a solicitor is a trustee, they request an annual report on the investments. So, has the solicitor arranged anything on that front?

The problem with the trusts now is that they are getting closer to maturity. So, this usually means you start moving towards cash over the last few years out of the investments. So, that will limit choice somewhat compared to what you would typically do with say a 5 year old.