14 year old beneficiary

A chance comment from a concerned mother lamenting how long it has taken in a small estate to receive the £40,000 due to her, now 14-year-old, son from the estate of his father who died in April 2017. I asked if her ex-husband’s pension was available to a dependent. The advice from the lawyer was that there was nothing to come from the pension.

I am a newly “retired” IFA, ( after 47 years in the UK I have changed my jurisdiction a regulator to Portugal )

I drafted a letter to the Teachers pension setting out the situation and to the delight of the family, the backdated benefits have now been received. These will exceed the legacy.

The lawyer has raised the matter of the child dying before his 18th birthday and the possibility of redistributing the legacy in that situation. The idea of leaving cash is poor advice in the current economic climate where cash can no longer be considered “risk-free”

Suggestions of how one might organise this to the advantage of the child would be appreciated.

John Mather
Stanbridge Family Office Ltd