Ever had the feeling you are asking a question to which the answer is obvious?
A minor beneficiary ‘A’ will attain 18 years in a few months.
“- As to a 40% share of residue to ‘A’ absolutely.”
Step Standard Provisions 2nd Edition apply.
The 40% amounts to over £200k. Executors are concerned ‘A’ may not manage the funds wisely or will be at risk of financial abuse.
Is it possible for Executors to create a discretionary trust (not by variation of the Will), the class of beneficiaries being ‘A’ and their issue?
Funds could then be held until say, aged attained 25 years, with advances as required in the interim.