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Original poster

Inheriting money when underage

21 replies

MrsT1704 · 05/02/2022 16:54

This is a little complicated so bear with me. My dad passed away last September and I have been managing his estate (only a small estate). I did not need a probate as it was a small amount and was not required. The notice has been in the gazette long enough to start giving money to those that inherit.

However, this is where I am struggling.
My dad has had a complex life and has had many children who include:

Me and my sister
3 kids by a women in London (aged between 12-16)
1 kid by another women in London (17 years old)
1 son in Nigeria (over 300
1 son in Chicago

I do not know any of these very well. Apart from the brother on Chicago that I have met once and we stay in touch.

The problem I have is that the 4 children are all under the age of 18. I am unsure how to give this money to them.

Do anyone have any advice about how to go about this? I have heard about opening a trust so would I ask the parents to set up a trust and then send the money once it is set up or do I keep the money until they are the right age?

Any advice would be great

OP posts:
Limita · 05/02/2022 17:15

I'm not going to be a huge help, but I take it there was no will? When I made mine I had to specify who I wanted to be 'guardian' of the small amount of money I would leave to my nephew. Has he said nothing like that?

tealandteal · 05/02/2022 17:15

What does is say in the will? I thought if the will said the money was to go directly to them, then that was what had to happen?

inesme · 05/02/2022 17:30

I'd divide equally by 8, and distribute, and hold which ever portions of the pie are for children you can't get in touch with until you can get in touch.

For the 17 year old I'd put it in an account they can access when they are 18.

Of your portion you can choose to give some of the money to your kids if you like.

Ohbotherpiglet · 05/02/2022 17:33

How small is small op? Makes a difference. If it’s as small as £1k each you could just post a cheque to the under 18 year olds . Do you have contact details for the two abroad?

Original poster
MrsT1704 · 05/02/2022 17:59

Oh no. I forgot to put that there is no will.

I know where all the children are and I am in contact with their parents so that’s not a problem. I’m just a bit twitchy about the legal side of passing over the money. I could not say for sure that the parents would use it themselves if you know what I mean.

The ones abroad I can do easily.

In terms of amount, we are talking around 2k split between the 8 of us

OP posts:
BernadetteRostankowskiWolowitz · 05/02/2022 18:01

Under 2k total or under 2k each?

OnaBegonia · 05/02/2022 18:11

If it's £250 per person, ask if the child has a bank account and send it over.

Original poster
MrsT1704 · 05/02/2022 18:45

Sorry, 2k each so approx 16k to split

OP posts:
BernadetteRostankowskiWolowitz · 05/02/2022 18:46

Could a solicitor be drafted to process the payments to the beneficiaries?

fairlygoodmother · 05/02/2022 18:59

If there was no will instructing a trust to be set up, you can just pay the money directly to the children. I’d start by asking if they have bank accounts or junior ISAs, if so you can just send them a cheque.

cabbageking · 05/02/2022 19:01

You need to retain some record that the funds went to the correct person.

It would be easier to write to them and ask them to verify any record of birth and then release the money when they are 18. This can be paid into their bank account. If you pay the wrong person you are legally responsible and therefore need to also protect yourself if later on it turns out someone else accessed it.

Original poster
MrsT1704 · 06/02/2022 08:53

@cabbageking

You need to retain some record that the funds went to the correct person.

It would be easier to write to them and ask them to verify any record of birth and then release the money when they are 18. This can be paid into their bank account. If you pay the wrong person you are legally responsible and therefore need to also protect yourself if later on it turns out someone else accessed it.

This is what I am thinking. I have got proof of birth certificate so I’m thinking it may be easier to hold on to the money and then send it over when they are 18. It’s such a faff when there is no will
OP posts:
gogohm · 06/02/2022 09:13

£2k - I would put the childrens amounts in a child isa maturing at 18 (except perhaps the 17 year old, put into a teen bank account, useful for driving lessons maybe

Soontobe60 · 06/02/2022 09:21

If you write to all the children (via parents if under 18) asking them to provide the bank details of where to transfer the money to, then the onus is on them to arrange this. Once you have the bank details, transfer the money.

HollowTalk · 06/02/2022 09:37

Was he paying child support? I think that has to come out before any inheritance.

Ohbotherpiglet · 06/02/2022 12:40

Legally or morally worried if it’s legally I would send a child a cheque addressed to them. If the parents stick it in their own bank accounts it’s a shame but you’ve taken reasonable precautions.

I don’t know if it would even be legal for you to hang onto it till they are 18? It’s legally theirs now

BernadetteRostankowskiWolowitz · 06/02/2022 14:31

@Ohbotherpiglet

Legally or morally worried if it’s legally I would send a child a cheque addressed to them. If the parents stick it in their own bank accounts it’s a shame but you’ve taken reasonable precautions.

I don’t know if it would even be legal for you to hang onto it till they are 18? It’s legally theirs now

I don't think cheques from the UK can be cashed abroad.
TizerorFizz · 06/02/2022 16:12

They get bank.savings accounts set up and you do bank transfers when you have details of the accounts. If the parents set up fictitious accounts, I don’t see how you can ensure common decency! Just keep a record of the account details and the transactions.

Ohbotherpiglet · 06/02/2022 22:10

@BernadetteRostankowskiWolowitz I was thinking more the U.K. kids. Saves you trying to verify bank details as well. It’s not worth setting up trusts etc for them for just £2k and you can’t setup a junior Isa /premium bonds without parents involvement anyway. The Nigerian “child” is 30 so that can be money transfer so that just leaves Chicago … are they under 18?

Original poster
MrsT1704 · 12/02/2022 12:28

Thanks for the replies. Both the children abroad are over 18 so that makes things much easier the problem that I have that is from everything I read, if I transfer the money to the parents to keep until the child comes of age and they do not use it appropriately then I will be the one legally responsible.

The advice seems to be to open a trust so that they can access it when 18 but this could only be possible with the mums agreement. I'm trying to figure out if I can just keep it and transfer to them when they are 18.

Its such as minefield and unfortunately there seems to be no advice on what to do when you need to distribute via the laws of intestacy and your dad has kids all over the country!

OP posts:
Dobedodo · 13/02/2022 14:08

I would issue a cheque addresssed to the child not the parent. I know cheques aren’t as common anymore but is one way of proving you legally gave the money to the child and if the parent then takes the money it isn’t on you. Whereas if you transfer cash into the parents bank account that could come back to you. Trusts etc have fees and would normally be for much bigger amounts

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