Hi all, my son is born in 2005. He is 12 now. The government gave him £250 voucher to invest in when he was born.
I have been divorced for a few years and have forgotten about it. I recently wrote to the HMRC for the account details. When I went down to Nationwide the letter they say my ex-husband’s name is on my account henceforth I can’t access it?! That is highly irritating as my ex has recently remarried and had a new baby so I am worried he might be up to no good with my son’s money.
Can anyone advise on what I should do so that we can both access the balance and not just my ex being in charge solely?
No one can access but your son and it gets "given" to him when he's 18.
DS is 10 and got the initial £500 off the Government. I paid in £10 per month for the first year. I checked the value last month and it's currently up at £2700. It's only gained over the years. I moved the investment to the Post Office within the first year and left it.
It will be a nice bonus for him when he turns 18, that's why I stopped paying into it so he only ends up with a small amount as I don't know how he will be with money in 8 year's time!