Inheritance into Trust for minor

[DamoUK]

I've sort of asked this before, but am going round in circles and getting nowhere...

Long story short:
* Step-uncle passed without a will and under intestacy rules everything goes to his blood-sister.
* His sister wrote a Deed of Variation and asked me to act as executor (done legally and I have Letters of Administration etc)
* Deed of variation leaves sum of money to her grandchild who is under 18 - DoV only mentions "To be held in trust until they are 18"
* All of the residue is now sorted and I need to distribute it (all money, no objects) and therefore put the under 18's share into a "trust"

How do I set up a trust? I'm guessing a bare trust is sufficient to hold the money for just a couple of years until they're 18. But I can't find anywhere to set one up. The solicitor I used to get a lot of the admin done is no longer able to help - do I need to get another solicitor just for this, or can I do it myself? Or can I just hold the money in the executor account until they're 18?

Thanks in Advance.

[dslippy]

How old are they and how much is involved? Do you trust the parents?
A bare trust is what you have already. Who else would act with you?

[DamoUK]

How old are they and how much is involved? Do you trust the parents?
A bare trust is what you have already. Who else would act with you?

Thanks for replying. They're 14 and it would be around £30k. Unfortunately their parents are deceased, but I do trust their guardian (their Aunt) and grandmother herself (who's 72), either of those can act with me.
When you say "A bare trust is what you have already" - are you referring to just keeping the money in the executor account?

[dslippy]

A bare trust is one where the trust is acknowledged but no particular terms are expressed.
You need two trustees, so get someone to act with you.
Who do they live with - the Aunt?
Keep it simple - two trustee names on a deposit account identified as a trust account, getting as much interest as tese miserly times allow.
Payment out on their 18th birthdays

[DamoUK]

dslippy Thank you. Any recommendation for banks that do trust accounts? Several I've contacted no longer do them!