I am about to inherit a large sum which i neither want or need , would anyone know if its possible for me to have it directed to my adult Nephews with someone else making the decisions as to when they receive the money as i would prefer them to use it for something of use such as a deposits on property rather than waste it which i feel they would if they had it now .
The estate is all cash and below the threshold so there was no inheritance or other tax's to be paid on the estate and i am the sole beneficiary however if i keep it safe until an appropriate time to give it to them it would still be deemed as mine and if i were to give it to them as a gift it would be treated as mine for the next 7 years .
Ideally i would like to pass it on to another relative to deal with so that i had no further involvement .
Any advice or suggestions would be much appreciated .
The estate is all cash and below the threshold so there was no inheritance or other tax's to be paid on the estate and i am the sole beneficiary however if i keep it safe until an appropriate time to give it to them it would still be deemed as mine and if i were to give it to them as a gift it would be treated as mine for the next 7 years .
Ideally i would like to pass it on to another relative to deal with so that i had no further involvement .
Any advice or suggestions would be much appreciated .
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