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Savings Account for God-Son. Advice needed...
Desperate_Dan_3
Posts: 134 Forumite
We would like to setup a savings account for our God-Son and add money to it for Birthdays and Xmas' etc. What would be the most suitable account? Should we put the account in our name and then just withdraw it when we want to give him the cash lump sum?
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Comments
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Can I just flag up that if you open the account in your own names then 'God forbid' but should something happen to you then the money is part of your estate and does not belong to your Godson by right.
Many places allow an account to be set up 'in trust' for a child and there are some better rates out there for kids so would suggest you research carefully.x Good luck0
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