Create a Bare trust and then move possibly into a LLP and company

Trusts Discussion
1

I am in the process of creating a bare trust from a grandparent to a minor grandchild of a rental property. The plan would be to possibly create an LLP and possibly incorporate into a company at a later stage whilst they would still be a minor as the trustees.

Would the bare trust need to be worded specifically to allow the trustees to create the LLP and incorporate the rental property as the minor could then own a share of the company. Or would this be a restriction of setting up a bare trust not allowing this process to happen.

Thank you very much in advance.

2

As you are setting up from scratch, you could give the bare trustee the full panoply of investment and other administrative powers.

So armed, the trustee should be able to do this, assuming it is in the best interests of the beneficiary and ignoring any other conflict etc issues as you seem to be suggesting there would be other parties involved.