Beneficiary turned 18

brooke68

My daughter was left a significant amount by her step grandfather, held in trust until she turned 18. The main trustee is a friend of his new partner who we have never met.
My daughter has now turned 18 and emailed the trustee to ask if she needed to provide any documentation and what would happen next. She received a curt reply saying that the trustee couldn’t tell her anything until she had spoken to her solicitor. This meeting was two days ago and my daughter has still not received any update or reply to a subsequent emails.
How long is this likely to take and is there anything she should do?

Keep_pedalling

Bearing in mind the trustee only met with their solicitor 2 days ago I think you and your daughter need to be a little bit more patient. I would expect that you would receive something in writing from the trustee or their solicitor shortly, but I would give then a couple of weeks before following this up.. 

SevenOfNine

The trustee could have spoken with a solicitor just prior to the beneficiary turning 18 so they could meet their obligation to transfer the inheritance in a timely manner. No update & no reply to emails is rude (& a bit suspicious, but then I've got a suspicious nature).

I'd be researching options for a solicitor to handle the arrangements for this, not actually employing one, yet. Just giving it some thought if nothing is heard in a few weeks. Long enough to wait with silence from the trustee.

Sea_Shell

Is your daughter a "sensible" 18 year old?

Is she open to suggestions about starting a pension, ISA etc. and investing a significant portion of the money for the future?

How much is a "significant amount"?

Is she working or at Uni etc?

brooke68

Sea_Shell said:

Is your daughter a "sensible" 18 year old?

Is she open to suggestions about starting a pension, ISA etc. and investing a significant portion of the money for the future?

How much is a "significant amount"?

Is she working or at Uni etc?

She is extremely sensible and already has investment plans in place. I fail to see the relevance however, as the money is legally hers, even if she chose to blow the whole lot in Vegas (which she would never do!).

Marcon

brooke68 said:

My daughter has now turned 18 and emailed the trustee to ask if she needed to provide any documentation and what would happen next. She received a curt reply saying that the trustee couldn’t tell her anything until she had spoken to her solicitor. This meeting was two days ago and my daughter has still not received any update or reply to a subsequent emails.
How long is this likely to take and is there anything she should do?

What's 'curt' about a reply which gives her the relevant information, albeit briefly?

If the meeting was only 2 days ago, to say she has 'still not received any update' ignores the fact that the trustee has a life of their own and may have any number of other calls on their time (and might have completely forgotten this important anniversary was coming up, which seems quite possible, given their response to your daughter). More importantly, they may also be waiting for the solicitor to advise on what steps need to be taken to wind up the trust and liquidate the funds (and what those funds will be after tax or other charges). It isn't a bank account where they can just write out a cheque.

Instead of fuming because the trustee hasn't jumped to it as you believe they should, all you and your daughter need to do is exercise a little patience. Then if she does fancy a trip to Vegas...!!

wilfred30

Happy to be corrected but I thought that a young beneficiary was legally entitled to the money at the age of 18 regardless of an age stipulation in a Will.

xylophone

If this is a bare trust, the beneficiary is legally  entitled to call for access to and control  of  Trust assets at the age of 18 (16 in Scotland).

Sea_Shell

I appreciate it's irrelevant, as they are now an adult.  I was just curious, as it may be a reason (albeit wrongly) for the trustees to drag their feet.

If the trustees won't release the money, then I'm guessing your daughter would have to involve solicitors.

I put nothing past people after reading these forums for years!!  

brooke68

Marcon said:

brooke68 said:

My daughter has now turned 18 and emailed the trustee to ask if she needed to provide any documentation and what would happen next. She received a curt reply saying that the trustee couldn’t tell her anything until she had spoken to her solicitor. This meeting was two days ago and my daughter has still not received any update or reply to a subsequent emails.
How long is this likely to take and is there anything she should do?

What's 'curt' about a reply which gives her the relevant information, albeit briefly?

If the meeting was only 2 days ago, to say she has 'still not received any update' ignores the fact that the trustee has a life of their own and may have any number of other calls on their time (and might have completely forgotten this important anniversary was coming up, which seems quite possible, given their response to your daughter). More importantly, they may also be waiting for the solicitor to advise on what steps need to be taken to wind up the trust and liquidate the funds (and what those funds will be after tax or other charges). It isn't a bank account where they can just write out a cheque.

Instead of fuming because the trustee hasn't jumped to it as you believe they should, all you and your daughter need to do is exercise a little patience. Then if she does fancy a trip to Vegas...!!

Thankyou. The Curt referred to the brusque language used, lack of any preliminary or introductions or social nicety that I’m rather used to I’m afraid. The trustee in this case is fully aware of the anniversary date, so really wanted to ensure my daughter is fully apprised of the legalities. Appreciate your response.

brooke68

Sea_Shell said:

I appreciate it's irrelevant, as they are now an adult.  I was just curious, as it may be a reason (albeit wrongly) for the trustees to drag their feet.

If the trustees won't release the money, then I'm guessing your daughter would have to involve solicitors.

I put nothing past people after reading these forums for years!!  

The trustee doesn’t know my daughter at all. We have never met her. She has no reason to believe that my daughter is in any way ‘unworthy’ but, even if she were, that wouldn’t change the legal facts.