Ending of Trusts
In the event of both parents dying when a child is under age the income from the child’s individual trust fund would be paid to the Guardians to look after the children until they are 18. After the child is 18, if the trust continues, the income would then be paid to the child who, if the child is still living with the Guardians, might be expected to pay some to the Guardians to contribute to their keep.
Trusts end when an event detailed in the Will occurs; examples are:-
- When children reach a specified age (18, 21, 25 or otherwise provided);
- On the death of named beneficiary or when a named beneficiary goes into care;
- On remarriage of a beneficiary;