Trustee Savings accounts

blinko

Hi all,

Was just wondering if anyone can help me.

My dad has a personal injury trust. I am trying to help him secure a better return.

It has to be no risk, savings only as he is not comfortable with stockmarkets etc (he is 60)

Does anyone know any good rates. We are currently getting something like 0.5% from LLoyds TSB and with inflation as high as it is.

Thank you.

xylophone

You need to ascertain whether the institution with which you want to take out the account will accept a "John Smith Trustee of Tom Smith Personal Injury Trust" designation. Usually the T&Cs say whether the particular account can be held in Trust.
http://moneyfacts.co.uk/compare/savings/accounts/search/ - you can look here.
This link has details of some accounts specifically aimed at Trusts.
http://www.fairinvestment.co.uk/trustee_savings_accounts.aspx?cmpid=005&gclid=CL2ZtMyzma4CFQwgfAod7GbpKw
Presumably you already know what type of Trust this is - bare, discretionary etc for taxation purposes.
http://www.lindermyers.co.uk/personal-injury-trusts---some-faqs_754.html#b1q8 might be of interest.

thenudeone

Scottish Widows is offering 1.60% on its 7-day notice trust fund deposit account
http://www.scottishwidows.co.uk/bank/savings/trust_fund_intro.html.