Grand kid bequest

lolaspop_2

i have a sizeable amount of money set aside in saving bond for my grandchild.  I intend to leave my house to be sold and proceeds split between my three children.  I spoke to a lawyer regarding a Will and they suggested that I combine savings and house as whole estate then split 4 ways.  I prefer not to do that as I would like my grandchild to have the full amount in the bond.  How can I achieve this.

xylophone

I prefer not to do that as I would like my grandchild to have the full amount in the bond.  How can I achieve this.

You could make a specific bequest in your will.

However, supposing circumstances dictated that you needed to cash in the bond?

Or you could combine as the solicitor suggests and leave a higher percentage of the total to the grandchild?

Your solicitor should discuss all options with you.

lolaspop_2

Thanks. Something to think about.  But I was thinking of closing the bond that’s in my name and starting one in their name.

theoretica

lolaspop_2 said:

Thanks. Something to think about.  But I was thinking of closing the bond that’s in my name and starting one in their name.

If you do that, I believe you will be giving the money now, not as a bequest.  The child will get control of the money at 18.  Is there any potential for more grandchildren or other situations which might make you wish to change your arrangements?

Keep_pedalling

How old is your grandchild?

lolaspop_2

Thanks. For your help. It’s appreciated!