Money left to child in Trust, but not released until child is 25

Murphy_The_Cat

xylophone wrote: »

It seems to be a case of "Yes, but...." - do let us know how the experts resolve the access/taxation issues.

Yes, I'll happily do that - but hopefully it won't be for a few years :A

Sea_Shell

Are you happy that a beneficiary, unable to obtain their share, may get into debt, struggle to pay their bills and even be evicted or repossessed, when they have £££'s owed to them.

How much is in this trust? Are we talking significant sums?

One should never discount the law of unintended consequences!!

Murphy_The_Cat

Sea_Shell wrote: »

Are you happy that a beneficiary, unable to obtain their share, may get into debt, struggle to pay their bills and even be evicted or repossessed, when they have £££'s owed to them.

How much is in this trust? Are we talking significant sums?

One should never discount the law of unintended consequences!!

I'm happy to let a young adult make their own mistakes and learn from them (part of growing up and no longer a sprog etc). I'm happy to encourage them to live within your means, strive for a well paid, rewarding and enjoyable career and not to enter a credit / loan agreement that they can't fulfil.


Getting to the stage of eviction or house reposessed is several step along the scale and pragmatism would step in.


Yes, it's a significent amount of money already and wise investements plus the wonders of compound interest (or dividends reinvested ) will make it a very attractive sum - especially for Child D who is currently 12)

Sea_Shell

I really hope you're right.

How many young adults hide their problems and don't involve extended family until it's too late?

If the youngest is 12, how old is the eldest? (Sorry I thought I'd read they were 17 & 25?)

Murphy_The_Cat

Sea_Shell wrote: »

I really hope you're right.

How many young adults hide their problems and don't involve extended family until it's too late?

If the youngest is 12, how old is the eldest? (Sorry I thought I'd read they were 17 & 25?)

I hope that it all works out OK as well.


I know that the youngest is 12, I'd need to check and confirm, but I think that the oldest is 18 (I was out by a few years further up the thread)