A friend's parents died a few years ago and left quite a lot of money for my friend and his little brother and sister. The will says the money is to be held on trust for them until they are 25. My friend is now 21 and looking after the others while at university but wants to start his own business. He has an amazing opportunity to start up a cleaning business but it will cost him £20,000 and he doesnt have enough money. When he asked the trust to advance money to pay for this as well as to put his little 17 year old brother who he's worried about into a motivational course to help him get back into school or get a job (which costs it costs £1500 for a month as its a boarding program), and for around £500 to pay for art tools his 11yr old little sister needs for a special course at school the trustee refused Can Rob do anything? All the money he is asking for is for legitimate reasons and I cant imagine his parents would want a small part of the money who they left to not be given to their kids early to better their lives . Rob is a responsible person and has also asked about the option of maybe holding off giving his brother the money until he sorts out his life but the trustee said he had to follow the will. Rob has looked after his brother and sister and is really a good guy and who just wants the best for everyone. Any advice as to what he can do?
I'm sorry, but on these facts, he is completely in the hands of thetrustees.
The situation is quite simply that all the beneficiaries must be 18 yearsof age to bring the trust to an end.
Before that, he is in the hands of the trustees.
I'm sorry, I appreciate that this is not the answer you wanted but there isno point in me misleading you.
Can I help further?
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