Legal Question in Wills and Trusts in Virginia

My mother just died on Nov 2, she had/has a will. The will specified that 3 grandchildren be left $10,00.00 each in a trust which they could have when they reach age 25. The children are 12 and 13 now. Can I put this in a vehicle such as a mutual fund (conservative) so that by the time they reach 25 they will have a nice nest egg available?


Asked on 11/17/10, 2:53 pm

1 Answer from Attorneys
Paul B. Ward Law Offices of Paul B. Ward

It may depend on the language in the will which creates the trust. It is common to include by reference certain trustee powers granted by Virginia statutes, which would permit investment of trust funds in such things as mutual funds. Best have the will reviewed by an attorney.

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Answered on 11/23/10, 12:24 pm


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