Trust accounts - trustees are adults

Loobyred

So my parents set up what they thought was a Trust Bond with Santander to be told it was just a normal bond and now they won't immediately pay out (as was my father's wishes on his death) without Probate.

My question is, my mum also set one up so she wants to move it to a Trust Bond otherwise the same will happen again on her death. Are there any banks out there that offer Trust accounts where the trustees are adults? Seen lots for children and Santander are saying they can't do it as they only offer this for children!

Thanks.

Browntoa

There's all kinds of issues with this , tax liabilities , iht liability , possible deprivation of assets.

You need professional advice on trusts

System

Possibly better off setting up some kind of Trust using a solicitor, and wording it "to be payable on my death" or something like that. Trustees would usually be the executors. The money itself could probably go into any sort of account provided the bank / building society allowed that. I am fairly sure that National Savings will hold money which is in a trust.