Testamentary Minor’s Trust
Sub-trust: usually no additional charge
- Used to hold inheritances for children/ grandchildren beyond the age allowed in Uniform Transfer To Minors Act gifts
- Restrictions and distribution ages are determined by the grantor
- If beneficiary is under a certain age (usually 30 or 35), his inheritance is held in trust so that he can mature before being given a large sum of money
- Allows individual with divorced children to prevent child’s ex-spouse from controlling grandchild’s inheritance