The importance of choosing the right Trustee to safeguard your children’s inheritance in Kelvedon.
In order for children under the age of 18 to be able to benefit from a Will, the inheritance must be
held on Trust by someone who will protect the inheritance until the children are old enough to
inherit in their own right. In some cases, parents will specify that their children cannot inherit in their
own right until a specific age older than 18, or until they have fulfilled a certain life event such as
marriage. However unless the Will states otherwise, a child would usually be able to inherit in their
own right at 18 years old.

It is important to note that should you die without making a valid Will, the Court would decide who
would inherit your Estate. Should the Court decide that your children would be the beneficiaries and
should any of your children be under the age of 18 at the time of your death then the Court would
have to appoint someone to hold the inheritance on Trust for those children. This is important
because the Trustee chosen by the Court may not be the person that you would have chosen!
Furthermore, in some cases, the Trustee can access monies on a discretionary basis to pay for your
children’s care and upbringing. A Court appointed Trustee may make very different decisions
regarding necessary expenditure for your children, than you would have made.

Therefore it is important to carefully consider who you appoint as Trustee within your Will. If you are
appointing a Trustee to access funds on a discretionary basis, then it is a good idea to include a letter
to your Trustee detailing any expenses you feel would be acceptable during your children’s
upbringing, as well as expenditure that you would prefer was avoided. For example, you may wish
for your Trustee to access funds for driving lessons and a first car. However, you may wish to
stipulate that the funds will not be used to buy a sports car!

Within your letter to your Trustee you may also like to include some suggestions for the upbringing
of your children. This could include religious preference or preferences regarding their moral
upbringing. You could also include other information such as favourite places that you would like
your children to be taken in order to preserve memories that you shared as a family together. This
letter is informal and therefore you can include as little or as much detail as you would like. The
letter may need to be redrafted every couple of years to make sure that it is still accurate and
relevant.

If you would like to discuss appointing a Trustee within your Will or any aspect of Will writing,
contact Andrew Douglas Wills and Legal Services today! Whether in Kelvedon or the surrounding
areas of Essex, we offer a free initial consultation in order to talk over how we can assist you and
answer any queries. For the peace of mind that your children’s inheritance will be safeguarded by a
person of your choosing, call Andrew Douglas Wills and Legal Services today!

 

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Written by Laura Richardson.

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