Discretionary Trust Savings Accounts

cautioussue

Hi,

Can anyone help?
My dear mum died and left her money in a Discretionary Trust.
But I want to put it into a savings account and naively thought I could use the normal High Street banks and building societies.
However it does not seem to be as easy as that.
I want an investment that is safe and gives 3.5-4%, not much to ask?
If anyone knows who will take my money please let me know.

dunstonh

Are you the trustee or a beneficiary?

cautioussue

Hi

I am both a trustee and a beneficiery.

parkersages

cautioussue wrote: »

Hi

I am both a trustee and a beneficiery.

Well I see our IFA didn't stay on this one long did he. I hope that you might have found something but as you say it is very difficult and around the time of your enquiry I found Skipton BS, Derbyshire BS and Julian Hodge after considerable searching. Unfortunately at the time I did not see your thread.

My Julian Hodge is now maturing and the other 2 will shortly be doing so (only decent rates were fixed term|) so I have been looking again. New rate with JH is well down on last year and still looking for alternatives. People who have taken in the past I believe are Cater Allen, Investec, Fidelity, AIG, Clydesdale and Leeds BS but do not know what current position is until I investigate. Oh and Allied Irish take them but again rates not great, but they are covered by the UK compensation scheme. God only knows why it is so hard to find a home for Trust money

John_Pierpoint

I too have a Scarborough that has transferred to Skipton.
I have a Yorkshire BS but the local branch got in a muddle trying to open it, and I had to write to head office.
I have an Investec "High Five" but they don't accept trustees in this account any more - however I do think they have another account that night be suitable.
I hold these as executor/trustee of dead people. Skipton wrote to me asking for the signature of someone who died in 1966, when they took over the account.:rotfl: