Grandparents in the UK have three options for leaving money to children or grandchildren in a Will: Outright gifts are accessible to the recipient after the age of 18. If any grandchildren are younger than this when you die, the executor of your Will holds the money until they’re old enough. Age-contingent gifts allow you to set a higher age limit for the gift recipient, typically 21 or 25, to reduce the risk of squandering their inheritance. Discretionary trusts are managed by trustees, who have complete control over the capital and income of the trust. They can distribute the money to your children and grandchildren based on the instructions you give in a “letter of wishes” rather than at a legally required age. With gifts to grandchildren, the rules for inheritance tax are a little different to gifts to children and further IHT may be payable to gifts held on trust for grandchildren.