How to split will?

[iamdivergent]

3dc, 12yr age gap between dc1 and dc3. Everything to be split 3 ways, God forbid we go before they're adults - DH thinks monies should be held in trust (if that's the right terminology) until youngest is 18, others will be 26 and 30 so that they all get the same share due to interest, at the same time.

Is this the right way to do it?

Thoughts?

Split it equally.
If need be, an appointee can look after a trust fund.
How the older two choose to accrue any interest (or not) up to them at the time.

It depends 18 yo is quite young to have your parents pass so I wonder if you're thinking realistically.

Have you considered offering all children a deposit for a house?

I would not give an 18yo a large inheritance. How about when they all turn 25 they get an equal amount then when the last one turns 25 the interest accrued over time is split three ways

That sounds a good way to do it Quite

I'm not planning on going anywhere soon as we had them young but always best to be prepared, especially now as we've sorted out who they would go to should we both pass when they're still minors.

A horrible thought but just glad we are getting our wishes on paper as such.

Hi OP I'm a will writer and recommend that you keep it simple with a standard trust, giving each child one third. They each receive their share on their 21st birthday (unless you have a very large estate in which case it may be better to drip feed until 25).

I was left some money in trust. The will had quite strict conditions embedded in it (as my dad would have blown the lot if access was easy), but my granddad appointed trustees and the money was locked away till I was 27 but could be freed up to pay for my education (so school fees, uni living costs/tuition fees, etc).

I have something similar written in my will (however max age in the UK seems to be 25)

there is a 10 year gap between our oldest and youngest. However were we both to go then they would each be able to get their hands on their share as they each turn 25 (so they get the benefit at the same stage of their life). However there would definitely be enough for the youngest's share to be used for their maintenance and education.

With the interest, surely if you get your share 12 years before your sibling it continues to accrue interest (in your account).

So child one gets 1/3 of estate in 2000; child 2 gets 1/2 the remainder in 2006; final sum is given to youngest in 2012. Yes child 3 may get more but child one has had their money and the chance to accrue their own interest for 12 years.

It would actually be unfair to give them the same sum as it will be worth much less 12 years on due to inflation.

That's one way of looking at it Munchkin!

In reality, often the trust fund is depleted over the years in paying for the children's maintenance.