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setting up high interest account/trust for minor
misswig
Posts: 238 Forumite
Hi
My DS(3) father died at the beginning of this year and as there was no will,al of his estate went to my son with me acting as the administrator (solicitor as co-administrator).
Ideally for the long term i would like to put this money (approx 120k) into property for him but in the short term i am looking to set up a high interest account for him which also enables me to draw off some of the interest per month in lieu of maintainence.
Can anyone advise me on what the best account/fund would be. All the accounts i have seen are for over 18's only.
Thank you
My DS(3) father died at the beginning of this year and as there was no will,al of his estate went to my son with me acting as the administrator (solicitor as co-administrator).
Ideally for the long term i would like to put this money (approx 120k) into property for him but in the short term i am looking to set up a high interest account for him which also enables me to draw off some of the interest per month in lieu of maintainence.
Can anyone advise me on what the best account/fund would be. All the accounts i have seen are for over 18's only.
Thank you
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