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Protecting Young Children and Investing for their Future

If you die leaving children who are under 18 to inherit your estate then the Law is very clear that those children cannot inherit until they become 18 years old.

Your wishes may be different. For many people the prospects of putting substantial sums of money into the hands of an 18 year old could potentially put that child at risk of squandering the inheritance or perhaps falling under the influence of others who might help them to do so. It may be for example that you would prefer your children to receive their inheritance in stages, perhaps to meet various requirements that they may have during their development such as educational requirements, university funding, a first car or a first deposit on a home.

By making a Will you can ensure that funds are received by your children at the appropriate time and that your trustees can make decisions on the timing of those gifts are given the power to invest the funds until the time that they are going to be required.

Investing for children is an area where Trustees have special responsibilities and will need to take professional advice. Here at Shacklocks we have qualified Independent Investment Advisors who are experienced in the provision of advice to Trustees where children are involved. As part of that process we will look at the timescale until the child is likely to inherit and also at the level of risk that can be tolerated to build up the funds. The Trustees will be failing in their duty if they simply place a fund for a child’s inheritance into a bank or building society account and the Law requires them to take account of a much wider range of factors when making their investment decisions.

If you want to ensure that your children inherit at the correct time or you are a Trustee with the responsibility for investing for children and in the right manner please give us a call so that we can show you how we can provide the benefit of our experience.