Best way to manage £3k for DCs age 16, 15, 11?

[mollkat]

My 3 DCs will get £3k each from sale of GRAN's house . Junior ISA , premium bonds or any other suggestions please?

[specialsubject]

premium bonds will get destroyed by inflation unless they actually win anything.

junior isa looks a reasonable bet; 3.25% from the Nationwide at the moment BUT keep an eye on the rate as it is variable. So you'll need to switch it at intervals. Once the money is in it cannot leave the ISA until the child is 18.

or you could start them a pension each, a small amount but it has a long time to grow.

[Ughh]

When do you want them to have the money? If 18 then junior cash isa for oldest 2 & stocks & shares junior isa for youngest, invested in a tracker fund.

[mollkat]

Thanks for advice - will look in to the options ??

[soggybreadandblackberries]

My mother died and her Will set up a discretionary trust (my sister and I being the Trustees) for her five grandchildren, together with a Letter of Wishes setting out her wishes and the reasons for them.
Originally she had left an equal sum to each of her grandchildren but changed her Will to form the Trust as one granddaughter is in a very abusive and controlling relationship and not only did she not want GD's partner to waste the inheritance but she also hoped that if one day GD leaves the relationship, the money would help her get back on her feet again.
Could people please suggest the best place to invest it. Distributions have been made to those over 18 which leaves £10,000 available for one GD who will be 18 next year and £10,000 to be held in the Trust for the GD in the abusive relationship. I thought Premium Bonds as the capital would be safe and there is a chance of a win, but Trusts cannot invest in them. Stocks and shares can be risky and Banks/Building Societies have such low interest. Any suggestions would be gratefully received. Thank you

[soggybreadandblackberries]

Sorry for the above. It is the first time I have posted and I didnt mean it to hijack someone else's post. I have posted it again separately.

[specialsubject]

well, you've summed it all up.

premium bonds are chancy and get gradually destroyed by inflation.
bank interest is very low
stocks and shares are risky.

that's life!! There are no safe easy solutions.

long-term the stock market is the best bet on past performance. Not one or two shares, a well-spread out fund.