Trust and distribution

[DamoUK]

I am administrator of an estate which went to a single person due to intestacy. That person has written a deed of variation (in the form of a letter) to redistribute the estate to others in the family and signed administration over to me (using the correct forms etc).
Everything is done apart from a small amount of Capital Gains Tax which HMRC have advised will take several more months, so I’d like to distribute most of the inheritance and just top it up once the CGT is finalised.
One member of the family is 16 and the DoV letter simply states “held in trust until they are 18”. Looking into trust accounts etc the fees are typically more than would be earned in interest.
is It feasible to just keep the money in the executor account for another 17 months, or do I need to set up a proper trust? If so, how?

[dslippy]

I am not sure that one can assign an administration. It is awarded by the court.

[DamoUK]

I am not sure that one can assign an administration. It is awarded by the court.

Sorry, maybe I wasn’t clear in my wording. I have letters of administration in my name and have administered the estate, having now sold all assets and collected all the money with just a small amount of CGT to pay and the residue to distribute.

The question is related to the trust for the under 18.