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This a common concern
when writing a will. In some extreme examples,
where the possible beneficiary concerned is a
spouse or child, it is very difficult to avoid
naming them as a beneficiary because, as a
child or spouse, they have an immensely strong
claim against your estate even if you choose
not to name them.
Fortunately, there are
ways to exercise some control over a
beneficiary’s enjoyment of the benefit you
bequeath to them, enabling you to make this
important gesture to them with some peace of
mind.
A common solution is to
set up a trust arrangement whereby the benefit
you bequeath to them is held in trust under
clear constraints you have outlined. It may
wait until the beneficiary reaches a certain
age or meets a certain condition before the
benefit is made available to him or her.
Alternatively, it may dispense a limited amount
of money at certain intervals specified by
you. There are numerous forms these trust
arrangements can take. However, there are also
certain arrangements that will not stand up
before the law if challenged.
To make the right
arrangements or to investigate other possible
solutions, you should discuss your concerns
with a solicitor who can advise you on the best
course of action.
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