Leaving Money to a Child in a Will

A child under 18 cannot legally give a valid receipt for an inheritance, and most people would not want a young child to receive a large sum of money outright even if they could. For this reason, gifts to children in a will are almost always structured so the money is held on trust by your executors, or by separately appointed trustees, until the child reaches an age you choose.

This does not mean the money sits untouched and unavailable. Trustees are usually given the power to use income or capital from the trust for the child's maintenance, education or general benefit before the vesting age is reached, so the gift can still help pay for things like school costs in the meantime.

If your will does not specify an age, a child is entitled to inherit outright once they turn 18. Many people choose a later age instead, most commonly 21 or 25, so the child has more time to mature before receiving a potentially significant sum of money without restriction.

Some people choose a staggered arrangement, for example half the gift released at 21 and the remainder at 25, particularly for larger sums. There is no universally right answer, and the appropriate age often depends on the size of the gift and your own view of the child.

Your executors will often also act as trustees for any gifts held for children, but you can appoint different people for this role if you prefer, for example someone with more financial experience or a closer relationship with the child. Trustees are legally responsible for managing the money sensibly and in the child's interests until the vesting age is reached.

It is worth choosing trustees you trust to act carefully and fairly, particularly if the trust may run for many years, and to name a reserve trustee in case your first choice is unable or unwilling to act.

If the child is already born, they can simply be named in the will. If you want to provide for children who might be born after the will is signed, such as future grandchildren or the children of a young relative, you will need wording that describes the class of beneficiaries clearly, for example 'the children of my daughter Sarah, whether born before or after my death'.

It is also worth stating what happens if the intended child beneficiary dies before reaching the vesting age, for example whether the gift then passes to their siblings, to another named person, or into the wider residuary estate.

Whether you are leaving a specific sum, a percentage of your estate, or a particular item to a child, the same principles apply: name the child clearly, choose an inheritance age, appoint trustees you trust, and say what happens if the gift cannot take effect as planned.

My Posh Will's guided online process makes it straightforward to add gifts to children with your chosen inheritance age and trustees. A single will costs £69 and mirror wills cost £89, both one-off payments with lifetime access, with most people finishing in around ten minutes and clear instructions for signing and witnessing included. For unusually large gifts or complicated family structures, take individual advice.