Conditional Gifts In Wills
Making a Will is a big and vital thing to do – after all, choosing how to distribute your estate, everything you own, is hugely important.
Why Put A Condition On A Gift In Your Will?
There are a number of different reasons for putting conditions on gifts in a Will, which may include:- Family relations
- The age of the beneficiary
- The circumstances of the beneficiary
- Second marriages
Examples Of Conditional Gifts
Examples of conditional gifts include:- Putting a condition on the money left to a beneficiary that they can only receive the money once they turn 18 or 21 or a stated age
- Putting a condition on an asset left to a grandchild that they graduate from university before they receive their inheritance
- Including a life interest trust in the Will to ensure the assets only pass once certain conditions are met – this is usually used for couples with children from previous relationships, so the assets only go to their children once the new partner dies