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Putting childrens inheritance into trust

(4 Posts)
karmaz Tue 23-May-17 14:45:21

My Children have been left £40,000 each from their grandparent. It was stated that the money should be held in trust until they are 18. So for the youngest that is 6 years away. How do I go about this ..looked online all looks so comlicated /expensive . £1000 each to set it up ? Any advice gratefully received.

karmaz Tue 23-May-17 14:46:11

*complicated that is

dontcallmethatyoucunt Wed 31-May-17 21:58:51

You can just look after the money in their name, you don't need an official trust document. Held on 'trust' means exactly that. You would have an assumed trust. Keep good records

karmaz Tue 13-Jun-17 21:43:16

Ok...thanks for info.

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