Parents, for the most part, want to name their children as a beneficiary of their estate once they have died. But what happens if that child is a minor (under 18) at that time? So it begs the question, can a minor be a beneficiary in a Will?
The answer is, they are not able to receive their inheritance, but doesn’t mean you can’t name a minor a beneficiary in a Will. It may sound strange, but as long as you include a caveat within the will. Which states, when a child is under-18 at the time of your death then their inheritance will go into trust. Then there should be no problem.
If the type of trust you wish your child’s inheritance to go into isn’t specified, an automatic trust is arranged. This trust (over which you will have no say as it won’t have been arranged in advance) means that your executor will have the responsibility of the money, property, or other assets until your child becomes an adult at the age of 18.
Setting up a trust yourself, you can choose whatever age (over 18) for your child to receive their inheritance. This can be useful if the sums are particularly large. More so, you may feel that you would prefer your child or children to inherit when more financially responsible. Which usually comes with age.
Keep things simple
Sometimes it can be a good idea for the trustee of your child’s trust to also be the person named as their guardian. This means that everything can be looked after in one place, and there will be no confusion. However, it is perfectly possible to name different people for each role. As long as the information is written in your will, and discussed (ideally) with the people concerned beforehand, then everyone will understand what is to happen, and how.
