Are there any CTF's that mature at 21 not 18

MJaye

Hi,

It's difficult to predict what an 18 year old will do with a few quid stashed in a bank account, but I suspect alot wouldn't keep it there for long!

Are there any CTF's that mature at 21 rather than 18? Hopefully by that age they would choose to put the money towards a house deposit or Uni fees rather than using it to get lashed down the pub and clubs.

If there aren't any CTF's that mature at 21 is there another alternative?

Thanks
MJaye

dunstonh

They wouldnt be CTFs if they matured later as that is a set requirement. It is one of the main reasons that many people didnt add any money to CTFs but used alternative arrangements.

Reaper

If you are looking for non-CTF child investments the one I chose lets you specify any finish date you want, though I am not sure of the legal position if the child demanded the money be handed over to them at 18.

It's this one set up as a bare trust.

However remember:
* It's an investment not a savings account.
* It's non-CTF so you can't pay a government voucher into it.
* The tax treatment of a bare trust is good, though not quite as good as a CTF. A designated account even less so.

Alternatively if you have not used up your ISA allowance pay it into your own ISA and gift it when you want in the future. Though again that's no good for cashing in a government voucher.