Hi,
I'm extremely fortunate that I have a not insignificant amount to leave were I to die to a variety of children; it's a combination of house equity, ISA and 2 pensions.
My thinking is some cash from savings to the children I'm close to, but all of pension, the remainder of savings and the house equity to my niece.
I have been meaning to do something about it for AGES! It sounds like (she is young) a trust fund might be sensible given tax etc.
It won't really matter to me because I'd be dead. But I'm not familiar with trusts, how much admin they are for trustees and what the requirements are.
Also, interested in opinion about age that it would be sensible to have it mature and who it is needs to do the setting up.
If anyone's able to advise what positives and negatives there are that would be amazing.
The other children I was just thinking outright cash as it isn't such a large amount.
Thanks in advance!