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Ask Clare Your Own Question
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34233
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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Is it possible to open a trust for an adult child (not vulnerable),

Resolved Question:

Is it possible to open a trust for an adult child (not vulnerable), simply for him to get some money in a few yearstime once he will have found a full-time job
Submitted: 2 years ago.
Category: Family Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
Could you clarify what it is you are trying to achieve please?
Clare
Customer: replied 2 years ago.
I have a son, 24 years old, actually with a degree in chemistry, but not too keen on working! My wife and I have just sold a big house and moved to a smaller one, and have some money we would want to give our children. But if we want to give the money now (for tax purposes), we do not want it to be spent by my son as long as he doesn't have a proper job. So the idea of a discretionary trust, if this is possible.
Expert:  Clare replied 2 years ago.
Hi
Yes you can set up a Discretionary Trust for your son - and ensure that he cannot receive any funds until he gets a job.
Please ask if you need further details
Clare
Clare and other Family Law Specialists are ready to help you