Will Trust - investment for beneficiary

I wondered how other members would handle this situation?

Beneficiary is currently 18 and has been left c£35k in a Will on attaining 21. The executor does not wish to act as trustee and has asked us to step in as trustee (family disagreements). The beneficiary was a foster child of the deceased and it would be unsuitable to distribute early. The beneficiary has no suitable parents to distribute to, or act as trustee.

I am concerned as to how to invest the monies appropriately having regard to ongoing fees etc. I note that Trustees can’t hold premium bonds.

As a trustee you should be able to seek professional investment advice. An IFA can give you the best advice given your circumstances ans short term requirements.

Thanks Lucy, I’m concerned about being criticised for incurring costs over what the trust in likely to achieve

Hi Victoria