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I5.546 Trusts for bereaved minors trusts (TBMs)—overview

Settled property is held in a trust for bereaved minors (TBM) (often called a bereaved minors trust (BMT))¹ in three circumstances, namely where:

1. Ìý

   (a)ÌýÌýÌýÌý it is held on statutory trusts (under intestacy) for the benefit of a bereaved minor under sections 46 and 47(1) of the Administration of Estates Act 1925², or

2. Ìý

   (b)ÌýÌýÌýÌý it is held on trusts for the benefit of a bereaved minor established under the Will of a deceased parent of the bereaved minor, which trusts secure that certain conditions (I5.547) are met³

3. Ìý

   In relation to Scotland, the requirement is that settled property is held on trusts for the benefit of a bereaved minor established under the Will of a deceased parent of the bereaved minor, 'the purposes of' which trusts secure that the conditions are met⁴, or

4. Ìý

   (c)ÌýÌýÌýÌý it is held on TBM established under the Criminal Injuries Compensation Scheme, which trusts secure that certain conditions (I5.547) are met⁵.

5. Ìý

   'The