Inheritance

nikki5013

My son has inherited some money and the terms of the will state it must be deposited in a bank with 2 signatories.  Can anyone advise such an account?....it appears if you are a trust, club or a business there are such accounts but not for a personal account.  Thank you

theoretica

How old is the son?  If he is under 18 (16 in Scotland) a bare trust account may be what is wanted.

eskbanker

Is your son an adult, with all faculties intact?  If so, was he at the time the will was written - it's difficult to know what the rationale for such a provision would be, but it does sound like some sort of trust was envisaged?

SiliconChip

If your son is an adult perhaps he could discuss with the executor(s) the possibility of a Deed of Variation to remove the stipulation. There might be a need to get a solicitor involved to confirm that such a variation is valid.

nikki5013

My son is 13 .

Keep_pedalling

How much are we talking about here? The options for a small legacy are going to be different to a very large one. Putting it into a bank account with zero interest would see the real value be eaten away by inflation before he becomes entitled to it.