Child Trust Fund and Residence Order

grannymum

Hi im wondering if anyone can help. I have a residence order for my grandson. I got him when he was 1, so his child trust fund was set up by his mother. I have contacted her with regards to contributing to the fund, but she just accuses me of trying to get hold of his money, which I know I cannot do. She wants me to give her the money to put in the account, which I know will NOT happen. She refuses to give me any details of the account.

What can I do? Can I apply to take over the account as I have parental responsibilty and receive child benefit for him. Ive looked all over the web, and there is no info for this kind of situation.

Thanks

ifonlyitwaseasier

hi grannymum,

welcome to MSE,

how about just opening a savings account for him that you can pay into? not quite the same but you'd know it was safe.

ioiwe

Krystaltips

I agree with ioiwe. My daughter has her child trust fund but I also have a savings account for her that I contribute to. I prefer to do that because I can control the money that goes in and when she gets access to it. (Eg, my grandmother recently gave me a cheque for her, in her name and told me to buy her something she needs with it. We have decided to put some of it towards her new bed, if I didn't have the account I would of had to pay the cheque into her trust fund and she wouldn't be getting the new bed...)

If you see an independant financial advisor they could help you decide what kind of account to open, ie, monthly saver of ISA equivalent...

grannymum

Thank you, yes I think that will be the best way to go with it. Thank you for your replies.