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Livvy
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Forum Member
Total Posts: 3
Joined: 12 Jun 07
Member #37
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I have 2 children aged 5 and 3. My 3 year old daughter got the standard trust fund from the government but my 5 year old son did not get one. Should I start a Trust fund for him using his bank account money (that's where we have put his money for far) to match the one his sister got from the government. I don't want him to miss out when he is older.
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keefa
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Forum Member
Total Posts: 3
Joined: 19 Sep 07
Member #196
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I too are in the same situation. My 7 year old son missed out on the government one but my youngest 3 got it. Now I made the mistake of putting a lump sum in the trust for my youngest not realising that it will automatically sign over to him at 18 where as my other sons money is in a building society and we get the right to say when he has it. I really wish I had just put the money from the government in my youngest sons account and put the rest in hos building society account.
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Fauzia
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Forum Member
Total Posts: 4
Joined: 25 Sep 07
Member #210
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Trust funds are a great idea. My husband and I have decided to set one up right away to save for those moments when our child will most need our help. We can't wait to get started.
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nikkim
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Forum Member
Total Posts: 3
Joined: 16 Sep 07
Member #185
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i dont know if i shoud get a trust fund started for my little one
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1 With Trust Fund 1 Without
12 Jun 2007, 10:17