Succession Act 1965 section 58

Powers of trustees of infant's property

Section 58 sets out the powers available to trustees who hold property on behalf of a minor (infant) under the Succession Act, including how they may manage, invest, and apply that property for the minor's benefit.

• Trustees may retain inherited property as it is, convert it to cash, or invest it in any legally authorised trustee investment, and may switch between such investments at their discretion.
• A sole trustee is entitled to receive capital trust money on behalf of the minor.
• Trustees may at any time pay out or apply the capital of the minor's share in the estate for the advancement or benefit of the minor, in whatever manner they see fit — including carrying on a business in which the minor holds a share — without needing court approval.
• A surviving spouse or civil partner acting as trustee of property appropriated under section 56 (the right to have the family dwelling and household chattels set aside) also has these powers in respect of the minor's property.