My kids have an inheritance they can’t access until they’re 30. Is there anything they can do to move it back?

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My mum left both my teenage kids 40k each.

The will stipulates it should remain in trust until they’re 30.

The executor of the will is her husband (not my dad) and I barely know him. He’s not told me anything about how it is invested and I had to get a copy of the will myself to see what was what because it all felt a bit awkward when he was in bits to talk about money. I’m not really in contact with him - there’s no problem, I’ve just only met him a few times and he lives hundreds of miles away.

Does he have the right to release it early? Would it be rude/wrong/unethical to ask him to overrule what my mum stipulated? Even a few thousand of it would help them so much with university, but asking a stranger for money feels wrong, even if it is theirs. I would love to know if it’s invested - with the time frame I’d hope it was all in stocks with very little bonds and cash, but it’s none of my business. Should they just leave it?

Surely you should have documentation from the solicitors who drew up the will; that’s what normally happens-if not, go back to them and ask to have the details of the trusts that have been set up.

Sorry for your loss.
If you have a copy of the will, can you contact the solicitor? They should provide the necessary paperwork for the trust. I doubt you'll be able to withdraw early but it depends on how the trust was set up.

MrsElijahMikaelson1 I don’t have any documentation at all. I have the will because I applied to see a copy of it. I am not the executor and wasn’t a beneficiary.

Presumably he’s the executor? I don’t think he can change anything. 30 is very old to receive it. Why did she do it like this?

I’d want to know about it as I’d want to know where it’s going to sit. High interest account for example?

How would;
”Dear Mum’s husband,
Thank you for overseeing the trusts mum requested to manage kids’ inheritance. It would be really helpful for our planning to have details of the arrangements you’ve made, please. Would you consider releasing funds early to cover higher education expenses?”

go over?

No, she said she didn't ask cause it would have been awkward.

The responsibility of the executor is to carry out the wishes from the deceased , you are wrong to even consider asking - the money was probably intended to help with them get on the property ladder or maybe marry who knows why the 30 thing was stipulated but you should respect it

So when my parents sorted their will they were told once the child became 18 there was nothing stopping them having the money then even if the will said another milestone ie. 25. So you need legal advice on this.

Did you even read the OP? She specifically says she did NOT ask the grieving husband. She got a copy of the will separately so as not to bother him.

How on earth is she being grabby to wonder if her children could use THEIR inheritance to fund THEIR education?

You seem to lack reading comprehension skills.

Are your children over 18? If so they should be able to ask.

If under 18 obviously you are entitled to the information as their representatives.

Does the trust already exist with the funds in it? If so you need to find out who the trustees are.

They are the ones that control the assets, not the widower.

I might end up being the odd one out here but I think you should all just leave it. They will just have to go through the motions of life in the usual manner via the usual channels etc and when they're 30 they will have a set up house deposit 🤷🏼‍♀️ my guess is that's why your mum did it this way, she didn't want them to blow it and get to that age and have no start up packet, so to speak. They will get access to loans etc for uni, can get a job and the like, the provisions are there for them, but of they spend the money they will never get it back...

I speak from the perspective of someone who had friends in teens and 20s who blew their inheritances on crap (with hindsight) and regretted it terribly...

Also, it's your mum's will! Leave it how she wanted it, maybe?

We’ve made ours age 25 probably for the same reason as your mum. Don’t want 18 year olds squandering it, pissing it up walls etc.

I think we were told but not totally sure, it can be released early if the executor agrees. Make your case.

I misread I apologise.

Do you know what type of trusts they are, and who the trustees are? The trustee(s) don't have to be the executor, and depending on the type of trust may have the ability to decide how to invest the capital.

I mean - I get that you don't know her husband, but I honestly don't understand why you can't suggest you go and see him, go out for lunch, chat about your mum and sort out admin stuff like this.

What a nasty post.

I mean if the trustees agree

@doorstomanual I don't agree. This was obviously a large estate. Anyone with a big estate knows that admin follows the death.

Being grabby to me would be things like going round to get wedding rings and such like

I think it would be very prudent to have details of where the money is etc sooner rather than later. Can you ask the solicitor who dealt with it?

How soon after she died did you ask?

It's not unreasonable to enquire.

Unless the assets/investment strategy is stipulated by the will, then the trustees will decide, but they must do so in the interests of the beneficiary. The strategy will be different if it is to be invested for 13 years versus 3 years.

Who are the trustees?

It’s in a trust for a reason. Those were your mums wishes and should be respected. They will be happy to have the investment when the time comes. Being in trust means your mum had gone through all these reasons when setting it up. Your DC were going to have to get themselves through uni before any inheritance was mentioned and so that should still be the course of action.

It's unlikely although you need to check details of the will and the trust.

It was your mum's money and she left instructions how it should be used. I've written a similar will but it has a clause saying the trustees can release a proportion of the funds for the child's formal education or emergency healthcare.

So it's worth checking.

If they'd wanted it to pay for uni, it would have been placed in trust for 18.

I also wouldn't want to give an 18 year old a large amount of money, to be perfectly honest. I think having some money in trust until they're 30 is a great idea.

I understand why you might want your children to have access earlier but these are your mums wishes and although maybe not ideal for you now there is a good argument to respect her wishes.

Also it's your children's inheritance and therefore when they become adults it's a conversation they should have with the trust holder. Obviously this could be had earlier by them with the trust fund holder. There is nothing stopping them from asking if the trust fund holder would directly pay the education bills out of the fund.

In a nutshell, you can't access this or do much about it but you can support your children through a process.