I want to leave a gift to my 15 year-old daughter in my Will but understand that I will have to set up a trust. Is this right?
A minor (someone aged under 18) may not own property and so any gift by Will must be held on trust for them until they are 18, or older if you stipulate this in your Will. If you do not appoint someone as your daughter's trustees (there must be a minimum of one and a maximum of four) then your executors will take on this role. Your trustees will have a statutory power to advance both income and capital from your daughter's trust fund to her (via her guardians) to provide for her needs as she grows up and most professionally drafted Wills in fact expand these powers so as to provide the maximum possible flexibility.