For putting this money into DCs savings account

[Yaaaat]

Will keep it brief!

Given some money from grandparents. Early inheritance type situation.

We have spent the majority on doing up the house.

I now want to put the rest into our DCs savings account (about 1k).

Husband thinks unfair and we should do something that all family can enjoy not just one DC (2DSC) or at least split it equally.

I don't want to spend the money for the sake of it and would rather my grandparents money go to helping our DC with something when they are older like uni fees, house deposit, car or whatever.

@DomPom47

I think your grandparents would really like that you have put some of the money aside for your child.

This is how I feel, even if they aren't here there will be something that they've helped DC with.

@Yaaaat

The point of putting it into our DCs account isn't because it's a huge amount, I just think it's nice that it's money from my grandparents and I can tell DC one day 'oh grandma and grandad X helped pay for these driving lessons' or whatever when they aren't around anymore.

I totally get this and I think it’s fine. I got some money from grandparents to help with expenses at 18, and I’m putting a bit of some money I’ve inherited into my own children’s savings for this purpose - so I can say ‘This was from GPs’ - as an expression of love.

Do what you want with your inheritance and tell DH to hurry up and sort bank accounts for his other 2 DC. (And contribute equally to savings for all 3 DC).

For me a lot depends on the ages of the SC and how long you’ve been in their lives. If your grandparents barely know them that is quite a different position to you having been in their lives for years.

How old roughly are your dh’s children?

Have been with DH 5 years. DSC are 12 and 10.

My grandparents have met them a handful of times if that.

Although tbf my GPs wouldn't mind what I did with the money. They would think it up to me.

I'm asking their ages because if they are say 5 plus and he hasn't opened them savings account yet, it isn't that he hasn't got round to it, he just thinks it is someone else job.

I think the thing with the bank accounts was that he didn't understand why I couldn't just do all 3 whilst I was doing our DCs. But I think he or his ex need to do it, I had to do a bit of running around with our DCs, taking their birth certificate to the bank etc... and really it should be a parent or guardian that does it.

He didn't understand or he played dumb?

How much do you do for DSC, OP? He sounds very lazy and entitled.

I'd save the money for your DC. Regardless of what it will be worth in ten years time, spending money on something you don't want seems a waste.

I might consider, if I wanted to, setting up two separate savings accounts (in my own name, but knowing the money was saved for my DSC) and making a small payment each month into there. Obviously this would depend on your disposable income. It doesn't seem like their dad will have saved anything so if you had a couple of hundred pounds saved for them by the time they are adults that would be a lovely surprise.

It’s your cash so your decision.

@Yaaaat

I think the thing with the bank accounts was that he didn't understand why I couldn't just do all 3 whilst I was doing our DCs. But I think he or his ex need to do it, I had to do a bit of running around with our DCs, taking their birth certificate to the bank etc... and really it should be a parent or guardian that does it.

I'd have thought it has to be a parent who opens the account anyway?

@Dustyhedge

For me a lot depends on the ages of the SC and how long you’ve been in their lives. If your grandparents barely know them that is quite a different position to you having been in their lives for years.

I think it's up to whoever has the money who decides, but I think there are a lot of variables in step/blended families that mean there's no right or wrong answer. So for instance you're going to get different answers on here , because people have different experiences themselves and no one really knows the set up of your family.

He is being ridiculous. They are his children and he can’t be bothered to organise savings accounts for them and some how that is your problem.

My DDad gifted my siblings and I some money and I put some of it away for the DC. They are now teenagers and my DDad has died. They appreciate that they got something directly from him.

Of course answers would be different if it were the OP's husband who received the money from his grandparents. Posters would be saying he should split it equally between his 3 children.

Which is exactly the same as the posters saying OP should just put it her child's account!

I'd have thought it has to be a parent who opens the account anyway?

Yes you have to say you're a parent or guardian. He would have just signed though after I'd done the application online whilst doing our DCs

Junior isa each, index fund, look at vanguard funds.

I have 3 DSC who have already inherited from their DM and their DGPs (their dm's dps). My 2 dc (dsc's half siblings) did not receive any of those inheritances (and nor should they IMO). The DSC may eventually inherit all the remaining their DGPs' estate from childless aunt plus her own individual estate. Again my dc should receive zero.

I have not inherited anything thus far. If and when the time comes that I do, I would use it to benefit me/DH in the first instance, then my dc and any future dgc that might come along. Whether that would also include any yet to be born DSC children remains to be seen. That may sound harsh but there are too many future variables.

Er... YANBU! Even if you didn't do the house up and put it all in trust for your child, you would not be unreasonable. It has come from your grandparents, not his.

I would say however consider a junior investing account rather than savings... interest rates get you sod all these days. Much better invested properly.