Hi Everybody,
One further point occurred to me. Often, people with money, set up a trust, under a trust deed for their children. The children could not get any money from the trust until they were 18 and then, it was only the money, they could not physically, get their hands on the assets, until they were aged 25, say. This was done so that they didn't squander the money, as Cati has pointed out. This was very common amongst the landed gentry.
Best wishes,
Dave