Savings for my niece and nephew

ignowench

Does anyone know if there is anyway I can open an account for my neice and nephew? My brother died recently and his ex (their mother) won't let us see them. We want to set up an account for when they are older but can't find a way without birth certificates. Any ideas?

barak

Yes! Assuming you know date and place of birth and mother's maiden name, you can obtain birth certificates for £9.25 each from the Government's official General Register Office - don't be fooled into using any other site which will charge much more!

https://www.gov.uk/government/publications/general-register-office-gro-certificate-application-forms

ignowench

Thank you, but surely I can't get birth certificates for other peoples kids?

k12479

Personally I would save any money for them under my own name and give it to them when they're 18 or so. If you can't see them now, in the future things may get worse rather then better.

jimjames

ignowench wrote: »

Thank you, but surely I can't get birth certificates for other peoples kids?

It would appear so yes, if you know the DoB and other details required.

But as per the previous reply it would probably be much safer to hold the money yourself until they are old enough to avoid future problems. You may want to ensure that it is ringfenced and referred to in your will so that there is no confusion over the purpose of it.

barak

ignowench wrote: »

Thank you, but surely I can't get birth certificates for other peoples kids?

Yes, you can! You get them for anybody. It's no secret that you've been born, married or died! I recently obtained one for somebody not related to me in any way. Just print 2 forms, fill them in and send them to the address at the bottom.

EDIT: On reflection, I may be wrong here! I've certainly obtained Marriage and Death certificates easily, but it must surely be a bit more difficult to obtain Birth certificates which could be used improperly. This needs a bit more research!
EDIT: ignowench I can't see anything on the site saying who can or cannot apply for a Birth certificate, so I would apply for one of them and see what happens.

xylophone

This might cause a problem from the point of view of tax - it is usually only the parent who can sign the R85 (assuming that the children are eligible) - it is certainly only the parent or guardian who can reclaim any tax overpaid if the accounts are held in bare trust after the age of 16.

https://virginmoney.com/virgin/savings/learn/childrens-accounts/

If you are thinking longer term, you might consider regular saving in a designated investment trust account - be sure to specify in your will that the money is to go to the children in the event of your death.
http://www.sit.co.uk/products/investing_for_children/features/how_to/
might be worth a look.

atush

I agree with xylo, look at an investment trust savings plan exp if they are still young. Takes away the R85 problem, and will do better long term than cash.

Do make an addendum to your will specifying where this money goes.