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Not sure where to put this cash!!
mick307
Posts: 41 Forumite
Long story but i have a relative currently spending some time at Her Majesty's pleasure. He will be there for a further 2 years unless an appeal is successful.
I have sold his car for him, at his request, as he doesnt drive it much at the moment!!!
With the cash from that and a tax rebate i now have just over £6k to put somewhere on his behalf, although it will probably be in my name unless theres a reason i shouldnt do that?
So can anyone suggest the best place for it please? I dont have any savings of my own, me and money are easily parted, but i it will need to be an instant access type in case his appeal is succesful, if not it can stay there for the full 2 years.
Im thinking an ISA in my name plus one in the wifes name, but im no expert never having had responsibility for this much cash before.
All suggestions welcomed,
Thanks,
Mick.
I have sold his car for him, at his request, as he doesnt drive it much at the moment!!!
With the cash from that and a tax rebate i now have just over £6k to put somewhere on his behalf, although it will probably be in my name unless theres a reason i shouldnt do that?
So can anyone suggest the best place for it please? I dont have any savings of my own, me and money are easily parted, but i it will need to be an instant access type in case his appeal is succesful, if not it can stay there for the full 2 years.
Im thinking an ISA in my name plus one in the wifes name, but im no expert never having had responsibility for this much cash before.
All suggestions welcomed,
Thanks,
Mick.
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