Savings in trust

daffodiltulip

I've asked about putting some money into an account in trust for a young adult, but I've been told that they need to provide proof of identity. If I'm the one opening the account with my money, why should the beneficiary need to provide proof of their identity - surely I can leave my money to whoever I like and they only need prove their identity when it comes time to receiving the money. Is there another way to have an account held in trust for someone without involving the beneficiary?

xylophone

Putting some money in trust or leaving some money in trust?

"A young adult" could be tricky depending on how old, what type of trust etc because of tax considerations whether a will trust or inter vivos trust. There will be other tax considerations, whatever the age of the beneficiary.
http://www.nidirect.gov.uk/an-introduction-to-uk-family-trusts
http://www.hmrc.gov.uk/trusts/types/index.htm
http://www.lawdonut.co.uk/law/personal-law/family-trusts-and-inheritance-tax/trusts-for-children-and-other-family-22-faqs#4

I would strongly advise that you see a solicitor experienced in wills and trusts.
http://www.step.org/