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Hello, my name is Peter and I’ll do my best to assist you today.
Please bear in mind as this is an email service and not live chat I may not respond immediately.
Do you know what the will says about the money and whether it is to be held "on trust" until the child reaches adulthood?
OK. They cannot demand this, nor should it prevent the inheritance being distributed, though it is normal for inheritance for a minor to be placed in a secure account such as an ISA or a trust. The reason being that it protects the money for the intended beneficiary.
The point about a trust account is that if there is good cause you can ask for early release of trust funds should there be a good reason.
Can I clarify anything?
Yes, but one caveat - if it is not placed in trust and you spend the money before she is 18, then she could potentially take you to court over this when she reaches adulthood, regardless of what you have spent it on.
So in many ways it is much better to place the funds in a trust account - it protects you all.
If you have further questions, you can always come back to me.
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