Usually more than one person appointed in your Will to look after the inheritance of a beneficiary under 18 years old or a vulnerable beneficiary. They can hold and invest your money on behalf of your children / grandchildren or vulnerable beneficiaries either until the child reaches a suitable point in their life to inherit directly or potentially for the rest of a vulnerable beneficiary’s life. This is someone you trust, appointed by you to protect your beneficiaries from the outside world for as long as may be required.

Trustees have access to the fund to ensure that the daily needs of the beneficiary are met and to provide them with allowances or lump-sums for basic things like food, clothing, a home, education and to provide for other important milestones such as purchasing their first car or putting a deposit down on their first property. You can make clear your preferences in a separate non-binding letter called a “Letter of Wish” in order to provide guidance for your Trustees as to how you would like them to invest and provide for your minor beneficiaries if you were no longer around to do so.