16 April 2021
Wills - Vesting of gifts to minors
When a testator leaves a gift to a minor is it better to vest the income immediately but reserve the capital until they reach majority?
Thank you for the question.
By Lawyers wills precedents provide that the trustee in their discretion may:
Apply for the maintenance, education, including travel to broaden the mind, advancement or benefit of a beneficiary the whole or any part of the capital and income of that part of my estate to which the beneficiary is entitled or may in future be entitled.
Aside from this provision, minor beneficiaries have no right to receive either the capital or the income before they reach majority.
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