Premium Bonds- would you keep the money?

[AnneElliott]

This situation hadn't arisen yet . But I was going through DS premium bonds and I wondered, if he won £1m, would we keep it aside for him, or would we use it to benefit all of us?

For example paying off the mortgage which would mean we could both go part time?

Would be interested in knowing what everyone else would do, and would you make them share it with siblings? DS is an only so we wouldn't have to make that decision.

Me and DP had this discussion, it's one of our favourites along with the "when we win the lottery" convo

We agreed we would buy a comfortable 3 bedroom house that would be our "forever home" which DD would then inherit from us. We'd buy nice normal priced furniture and then put the rest in her savings account.

And if she has any siblings, well she'd just have to share any money from the sale of our lovely forever home

We thought that too ( and discuss it a lot).
We think we'd pay off mortgage on our house which he would inherit and then put the rest in his savings account.

Are the bonds in his name?

I don't think you can legally spend someone else's money, even your own child's.

You'd have to wait for him to be old enough to agree to buy you a house?