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Investing inheritance for a child
stuart42_2
Posts: 2 Newbie
My mother passed away recently and left about £6K in her will to my daughter who turned 15 in December. Any suggestion which way to go with this as, i have to give proceeds to her on her 18 th birthday , and wish to maximise the capital up to that point.
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Comments
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Sorry about your loss. Suggest a Nationwide account, you can put it in trust for your daughter with you to sign, that way she will get the interest gross 5.27% and also open a Nationwide monthly saver and transfer £250 of it into the monthly saver each month and get 6.25% gross. There is an alternative with the Halifax I think paying 10% gross but only on £100 and upto the age of 16. We did that with a similar inheritance for our daughter.0
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