On 30 January 2021 the age of majority will change from 20 years old to 18 years old.

The age of majority is the default age at which a person can inherit under a Will, unless an older age is stated.  

When making their Wills, many people specify an older age because they feel that 20 is too young to receive an inheritance.  With the change to 18 it will be even more important that Will-makers think carefully about specifying an age if they do not want the default age (18) to apply.

Will-makers are often concerned that minors (such as their children or other close relatives) are looked after financially if they are too young to receive an inheritance.  The law gives the Executor of a Will the power to advance funds to a minor beneficiary’s guardian for the beneficiary’s welfare (e.g. if they need financial assistance with medical care or education costs).  This means that a young person’s guardian will receive money specifically to help look after them, even if they are not old enough to have their inheritance yet. 

If you are looking to make a Will, or would like to update your existing Will, and have minors that you want to provide for, talk with your legal advisor for advice that best suits your situation. 

Leading law firms committed to helping clients cost-effectively will have a range of fixed-price Initial Consultations to suit most people’s needs in quickly learning what their options are.  At Rainey Collins we have an experienced team who can answer your questions and put you on the right track.

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