CHILDREN'S / GRAND-CHILDREN'S TRUSTS

If you wish to benefit your children or grandchildren through Writing a Will, it is perfectly possible to do this within a very basic Will. However whist the child is under the age of 18, the funds will need to be held under a legal trust for his or her benefit a complex and costly legal procedure to go through as it involves an application to the court to allow for the trust to be set up and administered. After the child reaches the age of 18 he or she is quite free to spend (or worse squander) their legacy. Do you want this to happen to your bequest?

Asset Management is the answer to this very common problem using a CHILDRENS/GRANDCHILDRENS TRUST within your new Will. Writing a Will allows you to set up a trust in advance and accordingly there is no need for the costly legal trust to be set up through the courts when you die. The trust can delay your child or grandchild gaining full control of their legacy until they reach the age of 21, 25 or even 30 (for a disabled child or grandchild it can extend throughout their life)!

During the period up to the selected age, your chosen beneficiary can request the income generated by the trust, but the capital remains intact until the selected age is attained.