Top Junior ISAs guide: discussion

jamesd

Yes, HL is not usually a good choice for regular non-fund trades, not even with their recently introduced discounts for regular traders.

MTC11

I would like to put some money into an account for my children (aged 12 and 14). They dont have Child Trust Funds. I would like them not to know how much is in the account as I dont want them to access it until they are old enough to think about what to use it for (they both want to go to University currently). I was thinking about possibly something online - maybe the Junior ISA?
Also, Grandparent sometimes provides some money for them to be kept until they are older - part of the Inheritance Tax annual gifts.
Any ideas?

arrazello

Hello Forum Members

I read this in the guide...

"Once the child turns 18, the Junior ISA automatically rolls over into a normal adult ISA, and they will retain whatever split between cash and investments existed at that time. From then on, the account holder will be able to add cash up to whatever the prevailing ISA allowance is at the time (currently £10,680/year, of which £5,340 can be cash)."

My son is severely disabled and unable to understand the concept of saving. I am currently looking onto ways of putting away some money for his and our future. We envisage supporting my son in the family home for as long as we are able (until disability or death). I want to save money for a) unexpected expenses (such as specialised equipment or alterations to home) and b) financial provision after our death.

I refer to the above passage - what happens if my son is unable to make decisions for himself? Do we continue to act as trustees?

As an aside, I have looked across the saving advice at 'Martins' and see no articles geared up to provide info to parents/carers of severely disabled adults.
A Google (saving accounts and disability) only brings up advice on accessing grants. Am I missing something and if so, please, please point me in the direction.

Many thanks.

jennifernil

This may be helpful......

http://www.hft.org.uk/Resources/Home%20Farm%20Trust/Family%20Carer%20Support/Documents/UsingMCA-3.8.11%28lo%29.pdf

arrazello

Thank you once again
That will be very useful (once I have managed to digest all the information) :T

MartiMcFly_2

A work colleague recommended this Junior ISA to me. Anyone used these and what's your views?

Also, it's our first child on the way so this is all a bit new to us. Are Junior ISA's worth doing and are they the best/only option?

paul2louise

I have a "kids reg saver" with halifax paying up to 6%AER, but have lump sum from gran parents to invest and think the "kids fixed saver" paying 4.2%AER for up to 5 years could be the best option. Surely the 4.2% is better than 3% it will earn in an ISA. We can always reinvest this money into a Junior ISA at a later stage. We can't afford to pay the £3,600 every year so for now think this is the best decison, would welcome any comments

thanks

MiM

I'm looking to invest the family allowance and a little bit more for my new baby. I self select shares for myself but think I'd like to go for a tracker, maybe the 250 as suggested above or possibly a global one if this is possible.

Can anyone suggest anything (JISA?) for such small, regular amounts? I used Cavendish/Fidelity for an ISA already if they have a product.

Many thanks.

JVM

I have just tried to open junior cash ISA accounts at nationwide for my 14 and 16 year old children.

It worked fine for the 14 year old but not the 16 year old.

The site says that accounts can only be opened for UNDER 16s.

Is this just a nationwide rule? I thought that 16s could have both a junior and adult cash Isa.

Am I missing something?

Thanks....

MrGumby

JVM wrote: »

I have just tried to open junior cash ISA accounts at nationwide for my 14 and 16 year old children.

It worked fine for the 14 year old but not the 16 year old.

The site says that accounts can only be opened for UNDER 16s.

Is this just a nationwide rule? I thought that 16s could have both a junior and adult cash Isa.

Am I missing something?.

Read the rest of this thread before posting!

It isn't as if there's much of it.