will writing - children age to access money - 25?

[stripes11]

when is it wise to say when chln to have access to moeny from life insurance, in case something happens to parents? when children 25?

It seems like people want to dictate what the money is spent on and that’s what I hate about inheritance ! If you are leaving money do it in good will and let them spend on what they want. So what if they blow 5k on partying? If you start dictating age once an adult, you’re basically saying that they can have it but only if they spend on something important or that you agree with. Just spoils it! ! I’d say 18.

I quite like the idea of making it say 35 or 40.
Most people inherit money when in their 50s/60s, aged relatives being in their 80s - nice for retirement but money at 35 /40 would help you plan your retirement, or move house, or even change jobs.

5k isn't the issue.
It is blowing 100k.
It is being 'used' by friends for the money.
It is feeling they don't need to work as they have all this cash, which could lead to party lifestyle, wasting their life, and ending up at 40 with nothing.

thank you for all replies. i wonder in terms of list of yhingd to soend money on before 25 -

• education
• rent of dormitory that enables education
• health
• deposit on house in their own name? what else could be here?

car
travel

Our solicitor said 23 is an acceptable age too.

Education should be interpreted widely to include language, music, art and dance lessons.

I would use a small amount for deposit for rent or for a house, but I would not be using it to pay the rent or mortgage.

You are encouraging them to get a good secure job and to use the inheritance as bonus money - not to live off it until it runs dry.

I quite like the idea of making it say 35 or 40.
Our solicitor said it would be very easy for a bereaved child to challenge a will if the age to inherit was too old; 23 was seen as standard so not easily challenged in court.