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Investing over £30k for a child
jessicas_2
Posts: 5 Forumite
Help please my gran has left an 8 year old over £30k which I am a trustee of. What should I do with the money? Want to invest for at least ten years.
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Comments
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You are holding the money as bare trustee for the child?
(The child is absolutely entitled to income and capital but cannot have the cash now because he is still a minor and cannot give good receipt for it).
Or is this a discretionary (or some other type) of
trust? http://www.hmrc.gov.uk/trusts/types/
https://www.hl.co.uk/free-guides/investing-for-children might be worth a read?Also
http://www.sit.co.uk/products/investing_for_children/features/questions_and_answers/
http://www.bailliegifford.com/individual-investor/how-to-invest/investing-for-children.aspx
It is also possible to hold building society accounts etc in bare trust for a child where the provider allows.0
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