News1 min ago
Saving Account For Grandchildren
9 Answers
Can anyone advise of an account I can open for my grandchildren, without needing any parental input of any sort.
Thanks
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For more on marking an answer as the "Best Answer", please visit our FAQ.pretty damn difficult quite honestly
I had to wait until one lot had reached majority (18)
and I never succeeded with another lot
Mummies get some odd fixed ideas of which one: " this was never done for me so I am damned if I am going to allow it for my kids " recurs with depressing regularity....
however one co-operator came out with:
now my kid is one and his cousin is 19 so it is only fair that you make up 19 y contributions to little jo jo....
swings and roundabouts my dear
I had to wait until one lot had reached majority (18)
and I never succeeded with another lot
Mummies get some odd fixed ideas of which one: " this was never done for me so I am damned if I am going to allow it for my kids " recurs with depressing regularity....
however one co-operator came out with:
now my kid is one and his cousin is 19 so it is only fair that you make up 19 y contributions to little jo jo....
swings and roundabouts my dear
You will need to show a birth certificate, so would need to get that from the parents.
Some accounts can be held as Trustee Accounts by Grandparents in the name of the child, e.g. Virgin http:// uk.virg inmoney .com/sa vings/f ind/Vir gin_You ng_Save r_Issue _2/open ing-you r-accou nt/, Llyods http:// www.llo ydsbank .com/sa vings/y oung-sa ver.asp .
Others are considered to be the Childs money and all letters are sent to the childs address - e.g. the Halifax regular saver which has a good interest rate, but if things aren't passed onto you you might not know if they'd forgotten to register for gross interest - money given by Grandparents is not liable for tax (and I did ask!!!)
Halifax Children's ISA also has a good interest rate, but legally an ISA can only be opened by a parent.
Some accounts can be held as Trustee Accounts by Grandparents in the name of the child, e.g. Virgin http://
Others are considered to be the Childs money and all letters are sent to the childs address - e.g. the Halifax regular saver which has a good interest rate, but if things aren't passed onto you you might not know if they'd forgotten to register for gross interest - money given by Grandparents is not liable for tax (and I did ask!!!)
Halifax Children's ISA also has a good interest rate, but legally an ISA can only be opened by a parent.
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