A judge in the High Court has ruled that five children are not to be told how wealthy their family is.
In V v T & Anor, Mr Justice Morgan imposed restrictions on what could be reported in relation to the trusts set up for the children. He did so to protect their best interests.
The judge said that the parents had “striven to create as normal a life as possible for the children” despite their wealth and that a “modest and low-key unostentatious lifestyle was a core value of the family”.
He added that the children learning about the money they stand to gain from the trusts may “deter the children from taking full advantage of the educational opportunities open to them”.
The judge speculated that such knowledge could “create a sense of entitlement” in the children which may deter them from “making their own way in life and contributing to society”.
Mr Justice Morgan backed up the wishes of the parents, who were concerned about the possibility of people befriending the children for the sole purpose of taking advantage of their wealth.
In addition to the reporting restrictions, the judge also anonymised the judgment. He concluded that it was “not necessary to go further” by making the hearing private.
To read the full judgment, click here.
Photo by FreddieBrown via Flickr