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  • Writer's pictureMiGem

Wills & Trustees - Choosing the right Trustee

Most people know that when making a Will you will name at least one Executor to act on your behalf to ensure that on your death all of your wishes are carried out.


If you are wanting to leave money to children or grandchildren who are under 18, you will also name Trustees to look after any monetary gifts until the beneficiary reaches an age to fully inherit the money.


Anybody over 18, who is of sound mind can be named as a Trustee. But choosing this person/people is vitally important and you should think long and hard about who would be the best people for the role.


We have recently heard of a Grandmother who made her Son and Daughter Trustees in order to pass on an inheritance to her Grandson when he reached 18. Without his Sisters knowledge her Son withdraw all of the inheritance (£38,000) and spent it on drink, drugs and a holiday, effectively stealing from his own child.


He was sentenced to 20 months’ imprisonment suspended for 2 years, and subject to a community order including unpaid work after he pleaded guilty to fraud. Picking the right Trustee is very, very important.


Let us help.


MiGem

Life Well Planned




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