Bare Trusts for child
edited 8 July at 6:37PM in Savings & Investments
18 replies 247 views
I did a bare trust for my grandaughter after being an executor to a will that left her £5000 . Parents had already done a CTF for her , one of them along with myself and OH are the trustees and it was decided to put the money into SMT fund . Another £5000 was bequeathed to her when my mother died , which was also added, and her grandfather added a further £5 a bit later . Its taken me by surprise that its grown fast , now 50k , and there is only 7 years till shes 18 and may need it for uni .Feel its so high its likely to take a big dive if we have the expected severe recession,and wont have time to recover , so Im wondering what options there are for moving a fund in a bare trust, to a different fund, either cash or somethng less risky . Can it move in a trust 'wrapper'? I will read all the trust details for any info they might give me , but meanwhile wondering if anyone else has a bare trust (ours is with HL platform) and has investigated if and how to move it ?