Money in trust, advice needed.

Phil3822

Hi all, my sisters and I have been left some money which is to be held in trust with the soliciter untill the age of 25. For me thats 18 months away, for my youngest sister thats 12 years.

My question is, what happens to the money, such as interest earned etc?

Any and all advice greatly recieved.

PS, sum is about £27K each.

Savvy_Sue

I believe interest is earned: the solicitor has to put it in a special account, but your best bet would be to talk to the solicitor.

whatatwit

Usually, the terms of the trust specify that the money be invested safely, yet with maximum benefit.
So, no high risk get rich quick, more of a guaranteed interest rate.
As Savvy-sue suggests, speak to the trustees/solicitors.

Phil3822

Thanks both, I'll try and talk to the soliciter.