Inheritance options for Grandchildren

Goodegg1

Yes mum is still alive but she has terminal cancer unfortunately.

iMerc

Your best bet is to set up a trust fund for them as this is normally what it means when a person states in their will that they want children to have money with an age stipulation. There is a new trust in the UK called the 18-25 trust, I believe that is a good one to look into for the 19 year old, and then a child trust fund for the 16 year olds.

poseidon1

iMerc said:

Your best bet is to set up a trust fund for them as this is normally what it means when a person states in their will that they want children to have money with an age stipulation. There is a new trust in the UK called the 18-25 trust, I believe that is a good one to look into for the 19 year old, and then a child trust fund for the 16 year olds.

Not an option.

Will states age 21 and cannot ( and must not ) be extended beyond that age. 

No indication how much money per child is involved here, but OP could have a read of the thread below for an indication of complications arising from the age 21 contingent entitlement age, and how some forum contributors tried to address ( as best they could) in the circumstances they found themselves.

https://forums.moneysavingexpert.com/discussion/comment/81362744#Comment_81362744

Have to say, mother of OP has ( unknowingly) burden them with a conceptually awkward trust arrangement to administer ( registration on HMRC trust register, potential income tax at 45%, etc).

 If a solicitor drafted will, I blame the solicitor for not properly explaining  or even understanding the legal and fiscal complications at time of drafting,.