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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10635
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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MY WILL STATES THAT MY ESTATE WILL BE IN FAVOUR OF MY GRAND

Resolved Question:

GOOD AFTERNOON
MY WILL STATES THAT MY ESTATE WILL BE IN FAVOUR OF MY GRAND CHILREN TWO ARE ABROAD IN LUXEMBOUGH TWO IN GB THE TOTAL WILL BE UNDER £325.000(£375000?)
ARE THERE ANY PITFALLS THAT I SHOULD BE AWARE OF OR I SHOULD KNOW?
AT THIS JUNCTION THE AGES ARE FOUR - THE ELDEST FOURTEEN
MANY THANKS BILL NEWMAN OTHER DETAILS ARE AVAIABLE IF REQUIRED
Submitted: 1 year ago.
Category: Law
Expert:  Aston Lawyer replied 1 year ago.

Hi Bill,

Thanks for your enquiry.

Provided the Executors named in your Will know where to find your grandchildren, there is no scary issues you need to be made aware of. As you live in the UK, your Estate and in particular the Inheritance Tax laws of the UK will apply.

However, I am not sure if you have already stipulated this, but the youngest age for which a person can inherit under a Will is 18. Alternatively, if you wish, you can stipulate that your grandchildren do not inherit their legacy until they reach 21. If anything happens to you before the youngest reaches 18/21, it will be up to your Executors (should be 2 family members) to become Trustees, and whom will be responsible for investing the monies until they reach 18/21.

I hope this assists and sets out the legal position.

Kind Regards

Al

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