Leaving money to under age grandchildren abroad

Logierait

Should I set up trust funds here in the UK or ask my son in Australia set up trust funds there. I can't complete my will by just saying I want to leave them money for the executor to facilitate. They are not allowed to just send money to  Under 18 year olds
Thanks

Green_hopeful

Not sure of the answer but I have bought my overseas grandchildren premium bonds. It’s a bit of a faff getting them set up because their dad is the account holder but I pay them some money each birthday and some of them have quite a lot saved up. 

Keep_pedalling

If your grand children are still minors at the time of your death their bequest will need to be held in trust until they are 18 you don’t have to make any special arrangements in advance. Normally the parents of the minors would be the trustees of their children’s inheritance but if you don’t think they can be trusted then your can appoint your executors or other people to be trustees in your will.

The solicitor you use to draft your will can advise you of the best approach to take.

Logierait

Thanks Keep_pedalling. That seems to have answered the question for me.