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Child trust fund should we split it?

27 replies

Izzabellasasperella · 26/10/2019 02:35

Ds(16) has a child trust fund(goverment funded savings account) It has around £1,200 in it. Dd(19) was born before the scheme was started so doesn't have one.
Unfortunately over the years we never had the money to put in a savings account for dd or to add to the trust fund for ds ( no family contributions either)
So my question is should we split the money between the two teens? Well technically the money belongs to ds, but we could suggest it. Or should we say nothing and let ds do whatever he likes with it?
I would love to be able to save the equivalent for dd in the 2 years before he can access it but we probably won't have the spare cash.
Wwyd?

OP posts:
Izzabellasasperella · 26/10/2019 10:33

I'm not going to steal it!
What's immoral about suggesting that he share it? I'm not going to hold a gun to his head and demand he gives dd half😊
Ultimately I do understand its his money and he can keep it or share it.
Just out of curiosity if Great Aunt Mildred had left the same sum only to ds, would the answers be the same?

OP posts:
fanstar · 26/10/2019 10:42

I have the same situation but my child with the trust fund is my youngest.
I set up a savings account for my oldest and over the next 16 years have been saving for ds1. When he turned 18 I gave him his money but ds2 will have his trust fund so I didn't save as much for him.
It always was an unfair system and it will cause so many problems within families.

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