Childs benefits of a deceased man.
Victor
(Querist) 08 February 2013
This query is : Resolved
A Man who has expired recently due heart failure.Now his friends & colleagues collected 7 figured amount and kept ready for disbursing to the deceased spouse (around 30 +).
The primary idea is to support in bringing up his young children of thier current age 2 & 6 years (girl children)
What clause to put up in the will of this collected trust amount so that the amount is judciously used by the child when they grow up & withdraw at 18 years
What if this widow wants to remarry in between & how the clause can protect the amount supposed to be for the child incase of any potential withdraw by the new spouse or some one very close relative to her?
Experts Need your inputs
Setu Niket
(Expert) 08 February 2013
Create a trust fund, get suitable trust deed drafted with all the conditions to protect children interest, including condition in case of re-marriage.
ajay sethi
(Expert) 08 February 2013
he can create a trust fund . contact a local lawyer
Raj Kumar Makkad
(Expert) 09 February 2013
The desired clause may be inserted as under:
'The trust fund shall be kept as FDR or other beneficial securities by trustees so that its entire monthly/recurring interest may be incurred for the welfare of children namely ............& .... and his widow Smt. ...........till her widowhood.
The trust shall automatically cease to exist on attaining the age of 21 years by both the above-mentioned children each and thereafter the entire amount of Trust fund shall be disbursed equally to both of them.
