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Opening a Savings Account in someone else's Name
My daughter is married, working and living in the Netherlands. I want to open an online saving account in her name without her knowing about it. I would use my e mail address for all correspondence. I want to put some money into it occasionally so that she has a nest egg when I die. I am not taking big money just a little bit every so often when I can afford it.
Is it possible to do such a thing?
Thanks
Comments
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Why not just put it in your own name and stick it in a will that it's for her?
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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My daughter is married, working and living in the Netherlands.
I want to open an online saving account in her name without her knowing about it.
And run the risk of her being accused of fraud if she ever claims means tested benefits and doesn't declare this account that she knows nothing about?
I don't think it's possible and that's a good thing.0 -
Because I have a son who needs money now which I provide on an ongoing basis. I do not want my daughter to loose out so want this for her which is outside the will and will not cause any ill feeling between then when the will is read.Why not just put it in your own name and stick it in a will that it's for her?Val0 -
Because I have a son who needs money now which I provide on an ongoing basis. I do not want my daughter to loose out so want this for her which is outside the will and will not cause any ill feeling between then when the will is read.
How would it cause ill-feeling when your son knows he has got money from you (assuming he isn't going to repay it) that his sister didn't? Logically in the future she should be entitled to more in a 50/50 split as she didn't benefit from this early payout.Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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You make regular gifts from income to your son so why not just do the same for your daughter?0
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Contact your bank and say that you want the money to be held in trust for her.0
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If she isn't registered as living in the uk the application will fail the online ID checks0
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Because I have a son who needs money now which I provide on an ongoing basis. I do not want my daughter to loose out so want this for her which is outside the will and will not cause any ill feeling between then when the will is read.
Just give it to her as an uncomplicated gift then, surely?0
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