If you have children you will want to ensure they are well looked after if both parents die while they are young.

Too much money at a young age can get wasted.  You can select Guardians to look after your children and effectively act as their parent(s) and you can select Trustees to manage their assets until your children reach a suitable age to inherit.

But what is a suitable age to inherit?

Currently your children would receive their share at 18 – the vast majority of our clients feel this is too young.  These days, with house prices the way they are along with life insurance and other assets, even modest estates will provide a sizeable inheritance.

By creating a flexible children’s trust stipulation in your Will you determine the age at which your children inherit outright whilst allowing them earlier access for things like health and education – the general aim is to avoid your children’s inheritance being blown on or soon after their 18th birthday whilst allowing them access to the money for things that will help shape their future such as university costs and urgent medical care.

When they are a bit older and hopefully wiser, say 21 or 25, then let them receive the whole pot – after that they are on their own but hopefully they’ve learnt a thing or two by this point with their inheritance still largely intact!