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Trust funds

(2 Posts)
stupidgirl Fri 18-Feb-05 12:29:12

I know the whole child savings thing has been done before, but I've just searched the archive and can't find what I'm looking for.

I have money which I've been putting away for my children since they were babies. It's not a huge amount of money, but I hope it will continue to grow into a reasonable sum.

My children don't know about this money and I would like it to stay that way. My parents saved money for me when I was young, but I knew about it from about age 14 and once I knew it was there, despite being a reasonably sensible teenager, there was the temptation to spend it. And I did, age 16 it was frittered away.

Anyway. Does anyone know how I can put the money away, in their names, but without them having access until they are 18+.

Is a trust fund the answer? If so, how do I go about setting one up? TIA

joesy Fri 18-Feb-05 12:31:48

My aunt had money set aside in some sort of endowment or bond with the prudential and they did not get it until they were 18.

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