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Trust Funds??????
bertie2
Posts: 26 Forumite
Hi
Iwas wondering if anyone knew the answer to this? My parents in law want to place £5000 in a trust fund for our daughter when she is born (May 09). I understand that a child once they reach 16 has a say over where the monies is invested and at the age of 18 has access to the money. I am not overly happy with this situation as I am worried about an 18 year old with over £5000 (I remember what I was like at that age, party central :eek: )
My parents in law have said that they can set any age of access on a trust fund, is this true?????
Iwas wondering if anyone knew the answer to this? My parents in law want to place £5000 in a trust fund for our daughter when she is born (May 09). I understand that a child once they reach 16 has a say over where the monies is invested and at the age of 18 has access to the money. I am not overly happy with this situation as I am worried about an 18 year old with over £5000 (I remember what I was like at that age, party central :eek: )
My parents in law have said that they can set any age of access on a trust fund, is this true?????
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