Commentary

I12.1119 Trusts for minor children, grandchildren, nieces, nephews etc

IHT, trusts and estates

I12.1119 Trusts for minor children, grandchildren, nieces, nephews etc

I12.1119 Trusts for minor children, grandchildren, nieces, nephews etc

Where what is wanted is a trust for the testator's own minor children or step-children there are, in addition to the possibilities discussed in I12.1118, the options of a trust for bereaved minors or an age 18-25 trust: see I5.546–I5.556 for the requirements and consequences, and I3.312 for the possibility of potential exemption where a trust for bereaved minors succeeds an IPDI. If the testator is a parent or step-parent of the prospective beneficiaries but does not want vesting of capital in the beneficiaries by the age of 25, or he is not a parent or step-parent of the prospective beneficiaries, there are the possibilities of IPDIs, or a relevant property trust. For the comparative merits of IPDI and relevant property trusts see I12.1118. Another option in the opposite direction is a bare trust (see below). Where an IPDI is provided for a person under 18, or a trust for bereaved minors is created with an interest in possession in the income while a beneficiary is under the age of 18, the beneficiary will become entitled to call for the current income from the age of 18, and on attaining that age to call for any income which has arisen during the minority which has not been applied for his or her benefit. If an IPDI is being provided for someone who may be a minor at the testator's death, remember to modify Trustee Act 1925 s 31 so that he

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