Trust Funds for Children

Scarlett1

My daughter has some money that I want to put in a trust fund for her until she is 21, have looked around for one but all I keep finding is one's that have to be opened with a CTF voucher, so, is there any out there that can be opened without this voucher, I don't want to touch this money but want to be able to add to it as and when.

Many thanks

martinman3

There is a account from the Foxley BS which is just like a cash CTF account for children born before they started.
http://chorleybs.co.uk/index.php?option=com_content&task=view&id=112&Itemid=30
It works the same way as a CTF so you can only save up to £1200 each year. Note that this account just like CTF accounts only allows access to the contents at 18 not 21 and not before.

One way to prevent access before 21 would be to open an easy access savings account, making sure you alone can control it until your daughter is 18. Before she is 18 you would close it and open a 3yr savings bond in trust, which matures when she is 21, and does not allow early access.