Inheriting Money & Trust Planning

We often receive enquiries from people who have received an inheritance. For many people, an inheritance is often the first time that they become responsible for a significant amount of money. Whilst this can be exciting it can also be very daunting.

A long term client contacted us in November because they had received an inheritance which formed part of an estate following the sale of a house in London.

Whilst the client had some ideas of where to spend the money, they were keen to ensure that some of it was invested for the long term and specifically that part of it was earmarked for a deposit for a property at some stage in the future for their son.

Part of the criteria was that the son shouldn’t have access to the money at this stage, as he is not yet in a position to buy a property and would be likely to spend it if it was handed over to him. We used trusts to establish an investment fund to ensure that the funds are designated for the Son’s property deposit when he is in a position to proceed. This involved carefully understanding the family's position and views on investing that money for a future event. We will continue to monitor and review the position with the family on a regular basis to ensure that it is achieving their aims.