Fixed Rate Bonds

Mumum

Sea_Shell said:

Mumum said:

Sea_Shell said:

Olinda99 said:

the Trustees are not acting in the best interests of the child if they restrict to one institution only, and are thus failing in their duty as trustees.

From OPs other thread, I understand that it is actually their money held in trust for them, which they eventually want to pass on to their son.

Trustees are friends... although not sure how much transparency their is between them an OP?   Hopefully lots!!

Lots of transparency as I am a trustee too and yes that is an accurate summary of my situation, thank you. 

So glad to hear that, as there have been instances (on here) of Trustees that have been suspected to have been less than trustworthy!!  

Thank you, the trustees don't know each other either so there is that added security. They are very trustworthy people however it would be naieve not to put every safety measure in place.

MX5huggy

What’s the end game here? 

Is your son vulnerable in anyway, or just 16 and you’re his only family? 

Does he get access to the money at 18? I think I would take the 1 year option looking to get him added at 18 and removing the most uncooperative trustee. How does the trustees not knowing each other work in the case of you not being available? 

I can see why you may think general economic crisis would result in interest rate cuts, the last 2 have, being the financial crash of 2008 and COVID in 2020, in both these cheap money was needed to keep the wheels of economy turning but this time we have inflation running away, the only leaver the Bank of England has is to raise interest rates to slow lending dampening demand.