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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...
No. An ISA can only be held by a person and not by a trustee for a person.
Unfortunately trustee accounts are quite difficult to find as most of the best buy savings accounts are aimed at individuals and many cannot be opened by trustees.
This is a good one that can be: http://www.securetrustbank.com/savings-accounts/183-day-notice-tracker-account
Does the trust specifically say that you can't have it til age 25? Or does it allow the trustee to decide, but that it must be given to you when you reach 25 if you haven't already?
We need the earth for food, water, and shelter.
The earth needs us for nothing.
The earth does not belong to us.
We belong to the Earth
Does the trust specifically say that you can't have it til age 25? Or does it allow the trustee to decide, but that it must be given to you when you reach 25 if you haven't already?
The trust states that I can have the money at 25, but not before.
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