I'm wondering what the most sensible way is of putting money away for the children. Junior ISAs (and I assume most children's savings accounts?) will be turned over to the child when they reach 18. I'm not at all saying this is a bad thing but wondered if there are alternatives other than just another account of my own.
Do most people with money to spare for savings just keep a Junior ISA and hope that the child doesn't clear it out at 18? My kids are pretty sensible with their pocket money so no particular reason to think it will be an issue but wondered what others thought on how to reduce the risk.
My parents want to be able to pay money into their GCs' accounts but obviously want to be aware of any gifting implications etc if it is accounts in the kids' names vs in my name.
Just want to gauge opinion or hear what others do! So far we've just been saving our own money as best we can so we can hand over a chunk to the kids when they're adults/need it but I would prefer to have it itemised/separated as to what's 'theirs', and see it grow, even if it's just my own spreadsheet.