What type of trust?

chelski1000

Hi

I would like to create a trust for my two very young children, now as opposed to when I die.

I would like to make them beneficiaries of the property that I own.

My first question is what type of trust would it be a bare trust or a living trust?

Secondly could I be the trustee? Is it best to have two trustees in case of death of a trustee?

Thirdly as there is an age gap of 3 years, what happens when the eldest becomes 18 and has control of the property yet the other beneficiary is still only 15!!

xylophone

http://www.hmrc.gov.uk/trusts/types/minors.htm

You will need expert, qualified advice before setting up any kind of Trust - mistakes in this area can be hard if not impossible to correct and can be very costly.

http://www.step.org/