My uncle has been staying with us recently. Some time ago he said that he was going to leave everything to me.
He told me while he was with us that he's left dd the income on £200k until she's 21, and she will then have the capital outright.
The only problem, she's 14, and very, very immature. If she meets up with friends eg for a sleepover, she insists on buying all the sweets and other associated crap.
There is a strong possibility that she suffers from pathological demand anxiety, and having money - even ?50 - seems to make her more anxious than usual, and she fritters it away.
So, dh and I are rather worried about her having £200k in her hot little mit. My uncle is nearly 90, so this is likely to become a problem in just under 7 years time.
Is there anything we could do, to have some control over what she can/can't do with such a large wodge of cash?
Thanks for your help.