Wills

[Thisoldbird]

As it's been some years since I wrote my will, things have changed.. deaths and babies etc.

Were a very small family but the main beneficiary spends money like its going out of fashion.
Can I stipulate at least a % of the inheritance is used as a good deposit on a property ? How would this work, who could hold the cash back until such time its needed.
If not I can see it all being thrown away on holidays and hobbies and ending up with nothing.

Odd request maybe but it's been going round and round in my head for couple of years..

[bednobs]

no you cant do that per se. Can you afford to give /the money now?

[Maydup]

Is the beneficiary fairly young? Could you investigate creating a trust fund, accessible only when the person reaches a certain age?

[Buenchico]

See here:
https://www.legalandgeneral.com/life-cover/over-50s/news-and-articles/planning-for-later-life/conditional-gifting/

[bednobs]

Sorry it seems I was wrong and not for the first time. However you need to consider if the person is so feckless whether they'll ever be able to get a mortgage and what happens if the condition fails

[Thisoldbird]

Thank you all.

Buenchico your link is perfect thank you.