An age 18–25 trust is a trust for the benefit of a person under the age of 25, at least one of whose parents has died, where the trust is established:
•under the will of a deceased parent of the minor;
•under the Criminal Injuries Compensation Scheme; or
•under the Victims of Overseas Terrorism Compensation Scheme and which satisfies certain conditions.
These conditions are that:
(1)the person for whose benefit the property is held in trust must, on or before attaining the age of 25, become entitled to the settled property and any income arising from it, and any accumulated income;