Trust funds with two trustees for an infant until 18 - struggling!

luke_bristol

My daughter has been named as a beneficiary in my grandmother’s will, but I’m struggling to find a trust account for her.

The will states it should be an account held for her in trust with two trustees (which will be my wife and I) until she’s 18, but I’ve spoken to a few high street banks, who either only offer accounts with one trustee, only offer accounts until she’s 16, won’t let me open an account unless I have a current account with them (neither of the banks my wife and I bank with offer them) or were completely hopeless and I’m not interested in having anything to do with them (Barclays).

I spoke to the solicitors (Co op) and they were insisting (understandably) that the account must exactly match the stipulation in the will, so now I’m stuck. 

Can anyone recommend a bank?

Shakin_Steve

Not sure if it's what you're looking for but here goes. We opened a savings account with Yorkshire Building society when my lad was a nipper. Both me and the wife were trustees, and they didn't make us change to a different account until he was 21.

xylophone

 Do you want a current account? Could Metro help?

https://www.metrobankonline.co.uk/business/sector-services/products/trustee-banking/

Or a deposit account?

Example

https://www.skipton.co.uk/savings/childrens

I believe that the Skipton BS will allow this account to be held in Trust for the child up to age 18.

You could give them a ring to check.

Or a stocks and shares account?

Example

https://www.youinvest.co.uk/faq/it-possible-open-dealing-account-name-trust

Frogletina

luke_bristol said:

My daughter has been named as a beneficiary in my grandmother’s will, but I’m struggling to find a trust account for her.

The will states it should be an account held for her in trust with two trustees (which will be my wife and I) until she’s 18, but I’ve spoken to a few high street banks, who either only offer accounts with one trustee, only offer accounts until she’s 16, won’t let me open an account unless I have a current account with them (neither of the banks my wife and I bank with offer them) or were completely hopeless and I’m not interested in having anything to do with them (Barclays).

I spoke to the solicitors (Co op) and they were insisting (understandably) that the account must exactly match the stipulation in the will, so now I’m stuck. 

Can anyone recommend a bank?

Terms and conditions for the Skipton Building society children's account contains the following:

For accounts held in trust for the child: • we can only accept instructions from the adult trustee(s)

Which indicates that there can be more than one trustee.

I've opened one of these accounts for my granddaughter and it is an account for a child until the age of 18