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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
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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
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