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Child trust fund transfer
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Broberts
Posts: 1 Newbie
Hi all. I have a trust fund for my youngest and he will get it when he's 18. (3 years away). I have 2 eldest children that I am saving for through no fund. I have told all 3 of my children that they will get money when they are 21. Can I use my youngest sons TF to fill up my eldest 2 fund as they turn 21 very soon.
I spoke to the trust fund company and they said that only my youngest can accept the cheque.
Sorry if it doesn't make sense.
Thank you.
I spoke to the trust fund company and they said that only my youngest can accept the cheque.
Sorry if it doesn't make sense.
Thank you.
0
Comments
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Can I use my youngest sons TF to fill up my eldest 2 fund as they turn 21 very soon.
No.
The Child Trust Fund (is this what you mean?) belongs to your fifteen year old absolutely and only he will be able to access it.
https://www.gov.uk/child-trust-funds0
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