I am executor and the Will leaves £500 to a child. What options do I have? I'd rather ensure that the money gets direct to the child rather than giving the parents a cheque.
How to pay a child beneficiary
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How old is the child? Do they have a bank account as far as you are aware ?#staysafestayhome
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Just read further down the following but not sure if relevant:
Minor's receipt - My trustees may pay or transfer any income or capital of my estate to the parent or guardian of any beneficiary who is a minor and entitled to such income or capital and the receipt of such parent or guardian shall be a full discharge of my trustees.
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So you executor's duty would be discharged by paying the money to the parent or guardian.
As you are concerned about paying the money directly to the parents make enquiries off building societies etc about opening an account for the child yourself & then ask the parents directly if their child already has an account of his own.
You might then have a choice, but if it fails IMO you should give it to the parents and hope they do the right thing!
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