Will Trust - beneficiaries beyond 18

I have a deceased client, death occurred in 2010

5 beneficiaries highlighted on handwritten Will and this has been excepted for probate purposes in England. 3 of the beneficiaries were over 18 already and the proceeds of the estate are not to be distributed until the youngest child reaches the age of 21. The Will is silent on death of a beneficiary prior to apportionment of capital. It is the very basic Will wording that is causing an issue.

Is the Will Trust a Bare Trust or Relevant Property Trust. The Trustees feel that the settlor wanted the other beneficiaries to absorb the remainder should one of the beneficiaries die before entitlement.

I feel that it is not a Bare Trust as no award at age 18 and needs to be held to 21.

Alan Moore
Orb Global

This may create a bereaved young people’s trust under s.71D of IHTA1984, which would eliminate anniversary charges and exit charges up to age 18. You will have to check the requirements carefully.

Alexander Learmonth
New Square Chambers

In order to comment constructively, it would be necessary to know both the actual wording used and the law governing the terms of the will and the administration of the estate.

Paul Saunders