If the LM wants to nominate their children, can they do it if the child is below 18? If not, do they need a trustee? If yes, can they be a foreign resident?

They can nominate a child who isn't 18 yet, however they will not be able to become LM until they are- so its advised they nominate people before them. Once a child turns 18 they can pass a resolution for the child to sign, they can be a foreign resident but there are different (often more) tax implications for that so as long as the advisor is aware of that they can.

Please be advised this is general information only, and is not to be taken as legal advice. If you would like more information, or have a legal query, please contact Abbott & Mourly directly.
Reviewed: 17/01/2024