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Legal bods - question about Trusts

(7 Posts)
DelGirl Sun 02-Nov-08 09:46:34

dd has been left a small amount of money, not sure how small but suffice to say it won't be more than £1,000.

The money has to be placed in trust until she reaches 18. As the amount is so small, is it sufficient to place it in the Children's government bond without the need to set up a trust as she can't touch that until she's 18?

tia

DelGirl Sun 02-Nov-08 09:47:59

I don't mean small in an ungrateful way btw just that it may have a bearing on the legality of placing it in trust iyswim smile

DelGirl Sun 02-Nov-08 16:27:57

bump

DelGirl Sun 02-Nov-08 21:17:03

no-one know?

MrsPickles Sun 02-Nov-08 21:23:24

I think that's fine. The children's government bond is a trust where you control it and the money belongs to your DD when she's 18. If there are solicitors administering the will, can you ask them?

DelGirl Sun 02-Nov-08 21:35:04

thanks. No, i'm (supposed to be) one of the executor's though i've not had alot to do with it so far. I've heard that if funds are less than £15k, it can be paid to the beneficiaries with no need for any legal stuff? TRhere is very little to divide so it shouldn't be much of a problem i'm hoping. Any advice welcomed

MrsPickles Sun 02-Nov-08 21:41:50

I think its fine to go in the govn bond. If you are administering the trust then you just have to not withdraw it. The bond is a type of trust as far as I am aware.

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