trust fund for australian teenager

saint_alf

Anybody got an idea about this one. I am an executor of my late Aunt's will. She left money to be put in trust for her great nieces and nephews until they reach 18. We have sorted them out bar one, and this is proving to be a headache. The great nephew is a 15 years old. As there is only 3 years until he can access the money (approx. £10,000), the investment pots that we have arranged for the other younger n&ns aren't appropriate and we need to find a cash based alternative. We need to avoid paying unnecessary tax and yet as an he is not british he can't have an ISA. Any thoughts, anyone

kidmugsy

How about a three year savings certificate from ns&i? I know you can hold them in trust: what I don't know is whether there any issues on sale at the mo'.

Update: sod it, they're not.
http://www.nsandi.com/savings

Maybe next tax year?