£10k to invest for new baby

Midas

The grandparent concerned is currently in her mid-60s, and in good health, so I'm very much hoping she will be around for a good while yet (certainly in excess of the 7 years for IHT!). She has not given any direction about what the money is for (beyond 'the future'), and I think the expectation is that if we had another child they would get a similar bequest.

IanSt wrote: »

How old/wealthy are the grandparents and are you thinking of having other kids?

Is there a chance that if you did have other children that they may not be so fortunate to receive such a generous and sizeable gift?

Is there anything in particular that the grandparents are thinking this money will eventually be used for?

Imagining the scenario where I am a bit older and in the position of being able to gift such a sum to a grandchild then I'd possibly think of gifting the money to the parent so that the money could be invested and split with any further children that came along should I no longer be around. I'd also be potentially thinking that the parent would have a more balanced view of money then an 18 year old who suddenly gets a big sum of money if invested/saved in the child's name.

So it might be something for you/the grandparent to think about.