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Clare, Solicitor
Category: Law
Satisfied Customers: 35054
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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My daughter (aged 4) was named a beneficiary in her paternal

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my daughter (aged 4) was named a beneficiary in her paternal grandfather's will. Grandad passed over a year ago and the executors have advised that the inheritance will be distributed to her on her 18th birthday. I am the custodial parent, and my husband and I are in divorce proceedings. Is my daughter entitled to get the inheritance (£1000) now? If it is held by the executors for 14 years, is she entitled to the interest the money will have earned in a savings account? What can i do?
HiThank you for your questionMy name is ***** ***** I shall do my best to help you.The money is not payable until your daughter is 18 and the funds should be invested until then. Your daughter will be entitled to whatever interest has accrued at the time the funds are distributed.Please ask if you need further detailsClare
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Customer: replied 2 years ago.
By "not payable" do you mean that the executors have made this determination, or are they required to delay payment?
I mean that it is not due to be paid until she is 18
Customer: replied 2 years ago.
but the executors could make the decision to pay now? or not? The will does not specify an age at which the payment is to be made.
In fact unless the Will makes provision for the earlier payment it has to be held until the child is 18
Customer: replied 2 years ago.
The Will is silent on the matter of her age.
If I set up an interest bearing account in my daughter's name, and specify that it can only be withdrawn by her, can the money be deposited there?
It could be but the Executors cannot be forced to do so - and would be advised not to