best trust fund that allows transfer of ownership

BoltonWhite

Hi

I'm after some advice, I've been tasked with setting up a child trust fund as my role as an executor for a deceased family member.
my instructions are to set up the fund and deposit the inheritance. after that, I would like to transfer the ownership of the fund to the child's mother. I'm unable to just give the mother the money and have her do it. 

Any help would be greatly received,
Thanks

xylophone

Do you mean that you are the executor of a will and an  absolute, unconditional  monetary legacy has been left to a minor child?

What exactly does the will say?

BoltonWhite

yes.
states that any money left in the estate when all debts have been cleared is to be placed in a trust fund for the grandchild.

Keep_pedalling

How much are we talking about and how old is the child? 

dunstonh

I've been tasked with setting up a child trust fund 

It may be worth adjusting what you are saying there as there is an investment wrapper called "child trust fund" and some people may think you are referring to that.     Whereas in realty, you are looking to set up a Will Trust or Discretionary trust for a child.

after that, I would like to transfer the ownership of the fund to the child's mother. 

But that would defeat the purpose of putting it in trust and wouldn't meet the requirements of the Will.

xylophone

is to be placed in a trust fund for the grandchild.

Do you mean in a discretionary trust?

What exactly does the will say?

The precise terms of the will are extremely important in order to establish the tax treatment.