Where should I put my inheritance money?

jameswhite600

Within the next couple of months, I'm going to inherit £5000-7000 from my Grandma. When her house sells.

She has outlined in her will, that my inheritance will be put in a trust. Until I reach the age of 25 (4 years away).

Can the trustee (my dad) put this money into an investment for me? Such as an ISA or something else?

If the trustee is legally allowed to put this money into an investment for me? What would be the best form of investment? I wish to receive the money from the investment at the age of 25 (4 years) - I will wait for 5 for the right investment.

So where should it be put?

Edit: As pointed out rather bluntly by @Blackpool_Saver - I loved my Grandma immensely ( just thought I would keep private feels private).

jameswhite600

I would like to add, that I'm looking for a 4/5 year investment. With my dad acting as trustee, to sort it out initially.

McKneff

At 21 you dont need your dad to be doing things for you.

You get the cheque and sort out your own ISA. Its easy done,
research some ISAs, you would normally get a good return in you fix them for 5 years.
Get advice from your dad by all means but its all part of life's learning curve.

Sorry about your Grandma..........

Blackpool_Saver

McKneff wrote: »

Sorry about your Grandma..........

Yes hmmmmm, never even mentioned

jameswhite600

Thanks McKneff. I will make the decision, but as my Dad is the trustee for the trust, he is legally responsible for it.

Thanks again

jameswhite600

See my message below @blackpool_saver!!!

jameswhite600

Blackpool_Saver wrote: »

Yes hmmmmm, never even mentioned

I find your comment VERY OFFENSIVE. I was very close to my Grandma and visited her at least once a week. When she died on October 28th (last year) it was the worst day of my life. I made a decision not to mention my Grandma on here, because quite frankly that is none of your business!!! She was truly like having another Mum! Idiot!

p00hsticks

McKneff wrote: »

At 21 you dont need your dad to be doing things for you.

You get the cheque and sort out your own ISA.

The OP says that the will specifically states that the money should be held in trust until the OP reaches the age of 25 - isn't there therefore an obligation on the executor to ensure that this is the case ?

jameswhite600

@p00hsticks Yes exactly! I was just wondering if it's legally possible for a trustee to investment the money in an ISA or something else? Rather than just a low interest account...

Blackpool_Saver

matthewpoll wrote: »

I find your comment VERY OFFENSIVE. I was very close to my Grandma and visited her at least once a week. When she died on October 28th (last year) it was the worst day of my life. I made a decision not to mention my Grandma on here, because quite frankly that is none of your business!!! She was truly like having another Mum! Idiot!

As I said in reply to your PM I am sorry for your loss, I was not able to tell from your post that you were even upset at the loss, if you don't preface your questions with some background information, questions like this can appear rather mercenary.

My Grandma raised me so I can relate.

McKneff

matthewpoll wrote: »

I find your comment VERY OFFENSIVE. I was very close to my Grandma and visited her at least once a week. When she died on October 28th (last year) it was the worst day of my life. I made a decision not to mention my Grandma on here, because quite frankly that is none of your business!!! She was truly like having another Mum! Idiot!

Of course you mentioned your Grandma and inheritance in the same sentence so to me it was obvious that you had lost her, maybe not so to some other posters.

You may post on here and may not like what other people say but please do not resort the calling people idiots, if you indeed think that they are then you have just sunk to the same, if not lower level.