TSEM6355 - Legal Background to Trusts and Estates: Trust ends: minor reaches age of majority
A settlor may leave property absolutely to a minor. »Ê¹ÚÌåÓýapp property cannot be transferred until the minor reaches the age of majority. This is because a minor is not able to give a valid receipt. Until then the property is held in a trust for the minor.
When the minor comes of age they are no longer legally incapacitated. »Ê¹ÚÌåÓýappy can give a valid receipt, and manage their own affairs. »Ê¹ÚÌåÓýapp legal term for this is sui juris. »Ê¹ÚÌåÓýapp beneficiary is entitled to the trust property. This includes any investments the trustees made out of accumulated income.
»Ê¹ÚÌåÓýapp beneficiary can require the trustees to relinquish their trusteeship. »Ê¹ÚÌåÓýappre is no point in their continuing the trust any longer.