QLD Distribution of Estate to Beneficiaries under 18 - Held in Trust?

[Peter Hovey]

My wife is an executor of will and her mother's estate. Great grandchildren under 18 are beneficiaries in the will for a specific monetary amount. Can this money be distributed to them or must the executors / trustees hold it in trust until they turn 18?

There is no mention of holding in trust in the will. Everything I have read seems to suggest that beneficiaries under 18 are under a disability and the funds cannot be distributed to them until they are 18 and must be held in trust, but income from funds can be used to assist with education etc.

Please confirm this is the case. The youngest great grandchild will not turn 18 until 2029.

Thanks

 

[Therese]

Hi Peter,

My understanding is that children cannot get their inheritance until they turn 18 years old unless otherwise specified. Therefore I believe that the executor of the Will has to hold the monetary amount on trust.

This link to the QLD Gov states the responsibilities of the Executor and lists the details of the Public Trustee for inquiries as needed. Being an executor of an estate | Your rights, crime and the law | Queensland Government

This previous forum post also touched on your question, see QLD - Executor of Will Investing Beneficiary Trust in Own Name | LawAnswers.com.au.

If you have questions on how to proceed with creating trusts I would suggest contacting a legal aid centre or legal advice see Get Connected with the Right Lawyer for You.