Notifications
Clear all
Scottish Trust Deed Forum
5
Posts
3
Users
0
Reactions
1,178
Views
Topic starter
06/03/2013 10:01 am
My mum is unfortunately in very poor health and as such has been thinking of giving all her grandkids some money for the future while she is in a position still to do this.
It won't be vast amounts of money and is for our kids only aged 8, 2 and 1 and my sisters kids aged 13 and 9
As I am in a Trust Deed what is the best way to hold this money for the kids future which will not be afected by the Trsut Deed as it had nothing to do with me or my debts?
Regards
Colski
Half way already!
06/03/2013 10:09 am
Hi colski
Any third party inheritance is excluded and forms no part of the trust deed. I'm sure you could set up a trust account or childrens trust fund.
I'm sure the banks could advise and will probably bite your hand off!
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
06/03/2013 10:12 am
My kids have their own savings account for birthday money etc and my parents also bought them some premium bonds when they wanted to gift a larger amount (£100)
Premium bonds are only allowed to hold up to a certain amount, £30k from memory so if it's more than that, look at other options.
Topic starter
06/03/2013 10:12 am
Hi Mark,
I thought that may be the case. Just want to make sure and keep things avove board for the Trust Deed.
More banking conversations for me to have... The Joys... [V]
Half way already!
06/03/2013 10:26 am
Hi colski
Just remember the bank will try their damndest ( is that even a word!) to flog you insurance, ISA, travel insurance etc. It may well be a long conversation.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
