The Finance Act 2006 introduced a new category of trusts for bereaved minors.
A trust of this kind can generally only be set up under:
A bereaved minor is a person who has not yet reached age 18 and at least one of whose parents has died. Parent can include a step-parent or a person who, immediately before their death, had parental responsibility for the minor. It is possible, though, for a trust of this sort to be set up under the intestacy of a grandparent, great-grandparent etc.
Learn more about Fixed Fee Trusts with our Trust FAQs.
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