I have an estate where there are various cash legacies to minors. The wording is ’ I give to x the sum of x subject to his surviving me and attaining 25 years of age’.
Step 2nd Edition included.
- Can the legacies of £5,000 each be paid to parent or guardian now or must the Trustees invest?
- Are the residuary beneficiaries (charities) entitled to the income in the meantime? I believe so but on current rates would at best be minimal.
Would a Deed of Variation be possible whereby the charities surrender their right to income and the legacies could then be paid out to minors parent/guardian? . The youngest cash legatee is 4 years old…