Trust fund for a minor

[Nothingfallingdowntoday]

My son’s father sadly died late last year.

Last week I was asked by the executor if I would be the trustee of monies coming in from a pension fund. No mention of value or timing but I agreed in principle.

Today I had a call from the executor of the will to ask for the details of the trust account I set up as settlement is to be made.

Have I completely missed something, surely it can’t work like that. I need to know the value and details of the trust etc so I can take advice and ensure an appropriate strategy is set up.

I’m guessing I wouldn’t even be able to set up a basic bank account without some sort of evidence.

Has anyone any experience?

[Youhedge]

I’d want to know if the money can be inherited within the pension wrapper, return of fund is a bit old school. Much better as an inherited pension pot. There may be no choice, but I’d ask.

[Nothingfallingdowntoday]

Thanks for your replies.

The lawyer providing the Trust Deed I think is the bit I’m missing.

[Hope06]

I hold a 123 current account with Santander in trust for my daughter, I set it up last week, just made an appointment and went in with her birth certificate.
I think I hold it in trust until she is 18

[OllyBJolly]

I'm not sure I understand what you're asking.

However, I had to set up a Trust Bank account before the money for the beneficiary was paid out. It wasn't easy! Not every bank offers trust accounts and if they do, few of the staff seem to know how to do it.

I did have to supply the Trust Deed which the lawyers provided. You should be able to see this and this will set out the rules for the Trust and what powers you have as a Trustee.