Advice on savings

vix2000

Hi could anyone advise me of the best place to put £100,000?  It may be needed in the near future for care purposes but not at short notice.  Also the best place to invest £7500-10000 for a teenager as a trustee?  Thank you.

El_Torro

£50k can go in Premium Bonds, or £100k if it's for a married couple. 

The rest can go in one of these accounts: https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

Albermarle

Also the best place to invest £7500-10000 for a teenager as a trustee?  

Really we need some more detail. Specifically what is the time scale involved and what do you mean by 'invest '?

Normally 'invest' means putting the money in risk based investments linked to the financial markets ( stocks and shares ) .Is that what you are asking about ?

vix2000

basically my 90 yr old dad has sold his house. His original will left the smaller amounts for the great grandkids with me as trustee,  and he wants to gift to them now.  ages are 2,4,12,12,15.  His estate is under the Inheritance tax threshold.  The larger amount is in case he has to go into a care home.  Having never had savings myself I have no idea whats best to do.  I thought savings were the same as investments, but no, not stocks and shares.  I am aware they are relatively small amounts and the interest rates are low, but wanted to do the best I can.