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The best will to suit our wishes

(7 Posts)
MinnowAndTheBear Wed 26-Apr-17 17:32:39

We are in the process of writing our will. We would like for PILS to be guardians of our children, and for them to be able to freely spend any money we leave behind as "family money" to raise our children.
We don't want this money to be tied up in a trust until the children are of an age to inherit.
Can we put the money into a trust that PILS can freely spend from? If any money from our estate remains, we would like for that to pass to the children on the event of PILS' death rather than being swallowed up as part of PILS' estate and passing on to BIL. Thanks

MinnowAndTheBear Wed 26-Apr-17 17:34:53

I meant to add, does anyone have any advice? Thanks!

MinnowAndTheBear Wed 26-Apr-17 19:36:38

Hopeful bump!

MrsBertBibby Fri 28-Apr-17 07:57:07

You need to see a solicitor and make wills. A trust can enable the trustees to advance income and capital to benefit the children. It's fairly standard stuff.

Allthebestnamesareused Fri 28-Apr-17 16:07:15

Yes it is usual to have it in trust for the children but for the Trustees to be able to use the money for the kids maintenance or education (including using capital sums for various things such as housing)

Blowingthroughthejasmineinmymi Fri 28-Apr-17 16:07:55

There is a lady on here who has done loads of MN wills - bumble mummy I think? Marlow Wills, maybe get her to do one for you?

kittybiscuits Fri 28-Apr-17 17:19:18

@Mumblechum

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