We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Saving for godchild
studentloansQ
Posts: 2 Newbie
Hi there, looking for some advice on saving for my godson. I'd like to be able to deposit on birthdays/ Christmas/ ad hoc and if possible do it as a surprise for the parents too. I'd liked the idea of premium bonds but it has to be a parent/guardian and £100 minimum. Is there some other form of bond I can do for him? Or savings account I can open without the parents?
Thanks!
From a confused godmother :A
Thanks!
From a confused godmother :A
0
Comments
-
I am assuming that the child is an infant.
How about an investment trust savings plan held in bare trust with you and one of the parents as trustees - deposit once a month.
Examples
http://www.bailliegifford.com/documentgateway.aspx?_id=3A39B056-DE6E-474E-870C-3DB1B9BB88F3&disclaimer=ok
page 17
http://www.sit.co.uk/private-investors/products/stockplan-a-flying-start
Click on FAQ for details of bare trust.
The child has an absolute right to access and control at age 18.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.5K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.4K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards