Bare Trusts for Children: How They Work

<pWhen planning for your children's financial future, especially regarding inherited wealth or significant gifts, you might come across the term 'bare trust'. In England and Wales, a bare trust is a relatively simple and often effective way to hold assets for a minor until they reach adulthood. Unlike more complex trusts, a bare trust is straightforward, giving the beneficiary the child an absolute right to the assets once they turn 18. This article will delve into what a bare trust entails, how...