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savings open to trustees
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notsofreshfields
Posts: 4 Newbie
Dear All, I am looking for some help in finding where to save. My wife and I have recently become trustees to a family trust. We are planning to have some of the funds in safe deposits and the rest in a portfolio investing in a range of collective investments. We are getting advice on the latter. We are planning to use the tax-free status of NS and I index-linked savings certificates. It is difficult to find decent rates on fixed term bonds or building society accounts which are open to trustees rather than individuals. Does anyone have any advice on how we could short-cut this process rather than wearing my fingers down on the keyboard?
Thanks for reading this.
Notsofreshfields:beer:
Thanks for reading this.
Notsofreshfields:beer:
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Comments
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I know of two building societies which allow accounts to be held by trustees, Chelsea and Leeds.
Chelsea BS has 1 and 2 year fixed rates at 6.10 and 5.85
Leeds BS has 6 month fixed rate at 6.09 and Inflation Buster Bond0 -
Thanks to martinman3 for a helpul and prompt response.
Much Appreciated.
Notsofreshfields:j0 -
Also look at the Coventry. I believe it's got a good offering at present. x0
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Anyone have any current information on this. Derbyshire BS accept them , do you know any others0
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From the foggy recesses - Beverley BS and Investec bank.Free the dunston one next time too.0
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Depending on the size and expected duration of the Trust, just using deposit accounts (by whatever name) could lay you open to a charge of negligence as you have not taken proper advice on a regular basis. Should a judge decide that you could have doubled the value of the fund over a period had you acted properly, an order could be made against the trustees to make up the difference.
(Trust person not IFA!)0
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