Main site > Forums > Essential Money > Savings & Investments > Child Trust Fund as Godparent (Page 1)

IMPORTANT! This is MoneySavingExpert's open forum - anyone can post

Please exercise caution & report any spam, illegal, offensive, racist, libellous post to

  • Be nice to all MoneySavers
  • All the best tips go in the MoneySavingExpert weekly email

    Plus all the new guides, deals & loopholes

  • No spam/referral links
or Login with Facebook
Child Trust Fund as Godparent
Closed Thread
Views: 3,754
Thread Tools Search this Thread Display Modes
# 1
Old 26-04-2011, 5:10 PM
Serious MoneySaving Fan
Join Date: Jul 2009
Posts: 1,294
Default Child Trust Fund as Godparent


I am going to be godfather to my mates baby this weekend and rather than buy something useless I would like to start a trust fund with 100.

Any recomendations and how do I go about opening the fund?

Cheers D
dave82 is offline
Report Post
# 2
Old 26-04-2011, 7:36 PM
Fantastically Fervent MoneySaving Super Fan
Join Date: Aug 2004
Posts: 5,773

Are you talking savings or investments? Some options copied and pasted from another post:

1) Add it to their CTFs if they have them, or Junior ISAs when they come out later in the year
2) Put it in your or the the parent's ISAs to hand out at a future date if you have not used up your limits.
3) Put it in a children's savings account. But keep an eye on it and be ready to keep switching as rates drop.
4) I would favour investing most of the money rather than putting it in savings accounts as investments ought to do better over the long term. The two standard options are:
A Designated Account - owned by you but just earmaked as being the child's money. As such withdraws can be made at any time for any reason and need not even benefit the child. The downside is it is taxed as being your money.
A Bare Trust - the money belongs to the child and is taxed as being theirs. 2 or more "Trustees" operate the account on behalf of the child.
Baille Gifford and F&C are two examples I often give. Of the two only Baille Gifford allows lump sums starting at 100.
Reaper is offline
Report Post
The Following User Says Thank You to Reaper For This Useful Post: Show me >>
# 3
Old 27-04-2011, 12:48 PM
Serious MoneySaving Fan
Join Date: Jul 2009
Posts: 1,294

Thanks. Sorry just spotted there is a sticky on this subject. The Baille Gifford one looks like the sort of thing I am after.

dave82 is offline
Report Post
Closed Thread


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

 Forum Jump  

Contact Us - - Archive - Privacy Statement - Top

Powered by vBulletin® Copyright ©2000 - 2015, Jelsoft Enterprises Ltd.

All times are GMT +1. The time now is 2:26 AM.

 Forum Jump  

Free MoneySaving Email

Top deals: Week of 15 April 2015

Get all this & more in MoneySavingExpert's weekly email full of guides, vouchers and Deals

GET THIS FREE WEEKLY EMAIL Full of deals, guides & it's spam free

Latest News & Blogs

Martin's Twitter Feed


Cheap Travel Money

Find the best online rate for holiday cash with MSE's TravelMoneyMax.

Find the best online rate for your holiday cash with MoneySavingExpert's TravelMoneyMax.

MSE's Twitter Feed