How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask UKSolicitorJA Your Own Question
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
Type Your Law Question Here...
UKSolicitorJA is online now

I have a trust, my children are be beneficiaries. If I were

This answer was rated:

I have a trust, my children are be beneficiaries.
If I were to die now my estate, outside of the trust, would give them some £100,000 each.
I am concerned that this might derail particularly two of my children.
I am thinking of leaving them a small bequest, say £25k and leaving the residue to the trust.
This way the trustees can give them the cash when they think best.
There are no IHT issues as I have my deceased wife's allowence unused.
What is your query please?
Customer: replied 3 years ago.
Is what I am suggesting legal?
Can I leave money to a trust?
If so what are the implications?
Yes, you may leave the money to a trust for the benefit of your children.
The Trust may be discretionary, so that the trustees have the discretion on how to distribute the trust assets. The tax implications for the trust are explained here
Hope this helps
UKSolicitorJA and other Law Specialists are ready to help you