Can children under 18 inherit my estate?
Children cannot inherit until they reach the age of 18; below this age, the funds are held in Trust. The Trustees decide what income and/or capital can be used for the benefit of the children, for example, to pay school fees. If you think 18 is too young for your children to inherit a large sum of money, you can specify in your Will that they do not receive the capital sum until a later age. However, they will be entitled to receive any income from the trust fund as soon as they reach 18.
Should I appoint guardians for my children?
If you have no close family member who would look after your children (under 18) should a tragedy occur, you may want to appoint a guardian or guardians. Without nominated guardians, the courts will decide who will look after your children.
A guardian does not have to physically look after a child but he or she is responsible for ensuring that the child is properly cared for. If you do wish to appoint guardians here are some points to remember.
* You should appoint someone who is unlikely to be elderly or infirm by the time that your youngest child attains his or her majority.
* You should seek the guardian’s consent before you consider appointing him or her.
* If you are separated or divorced and the other parent has parental responsibility then the appointment of a testamentary guardian will not come into effect until the surviving parent dies.
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