children's bank account no access before 18

Hagar_uk

Hello I am an executor of will and have 1k I need to give to a child. I don't really want to setup a bare trust as costs are rather high, but the child should not be able to access it until 18, which is an issue.

This is all fun and games,  the other executor and parent of child has been promising for a year to get me details of child's isa, When she finally tried the other parent (currently divorcing) refused as he sees it as his ISA to child and told her to get her own. Which of course she can't.

Are there no savings accounts which limit withdrawal to 18

Keep_pedalling

Do you know if the existing ISA is a cash or S&Ss one? A child can have one of each. How old is the child?

wmb194

Hagar_uk said:

Hello I am an executor of will and have 1k I need to give to a child. I don't really want to setup a bare trust as costs are rather high, but the child should not be able to access it until 18, which is an issue.

This is all fun and games,  the other executor and parent of child has been promising for a year to get me details of child's isa, When she finally tried the other parent (currently divorcing) refused as he sees it as his ISA to child and told her to get her own. Which of course she can't.

Are there no savings accounts which limit withdrawal to 18

Bare trust children’s savings accounts are free. As the trustee you’d decide on whether to make withdrawals or not.

mta999

One solution worth thinking about (depending on the age of the child) is to put it into an 'n' year fixed rate bond with eg a building society which doesn't mature until they are 18