Should I bother to keep trying to give money to adult DD?

[Basketweaves]

DD turned 18 over a year ago. I paid into her CTF from birth. I suggested transferring the CTF into another investment when she turned 18 but she's not interested.

I am trying to give her some money to put into a LISA and she isn't bothered. Her elderly grandparents are trying to give her some money while they are still alive, but this would again be money to be invested.

She would bite my hand off if I offered to give her the money to spend, but she says she is too busy to sit down with me for 30 mins to set the investment account up. I know if I just transferred the money to her account and told her to set it up herself she would just spend it.

She is quite financially immature and impulsive. I need to start giving her the money now due to my own circumstances. The money should in theory be for a house deposit but she says she won't need one.

The alternative seems to me to be to give her share to her younger siblings. This would be very unfair on her. Her grandparents won't be around much longer either.

Any attempt to discuss this feels like a slap in the face.

What would you actually do in this situation? I would like to wait for her to mature but there isn't time.

I get that if I give her the money it is her money. She can always take it out of the LISA and spend it.

I don't understand why there is a rush? She is being very silly but you've missed this years tax deadline and her gps are alive - why can't it wait until she wakes up and sees the light?

The rush is to do with my health. I don't want to go into any more detail than that.

Keep it set aside to give to her later. Not sure why you would just give it to her siblings if you have similar amounts to gift to them.

will pm you

Transfer into a trust/investment fund and sit on it, add to it. She will be interested when she wants to buy a house, she's just not seeing the bigger picture right now because she's young and probably still without much by way of responsibilities.

My son is 18. His CTF matured a few months ago and he hasn't got around to doing anything with it yet. That's ok - it stays in his name (as a "matured fund") and he can access it any time he likes.

Hi OP,

Have you looked in speaking with an IFA (independent financial adviser). They may be able to provide the best advice here

I have an IFA. DD is too busy to meet with one. I am a low earner and I have been cautioned against setting up trusts by my solicitor due to the costs outweighing the sums we are talking about. I have had a lot of discussions with my solicitor about this and have re-done my will last month.

Fair enough, glad you're getting some professional advice OP.

Hopefully someone with more knowledge on the subject can help you.

I'm sorry that you are in poor health

I am very sorry to hear that OP. I have a similar situation but my DC have been very very organised thankfully so I understand your concern. I would set up a trust. She is probably avoiding it all to avoid thinking about the reasons.

She is still very young; not everyone mature at the same age; open the account for her, setup a trust, etc.

Bribe her. If she takes the time to set the account up with you, you'll take her out to dinner/give her £100 spending money/whatever.

Slightly different situation as my DS is an autistic adult but is also uninterested in finances. I manage his money and have been able to set up savings, pension and ISAs in his name quite easily as it's all done online. Generally you just need their full name, DOB, NI number which you probably have access to. I have all the online banking details so I manage it on his behalf. He is in agreement about it so it works out fine for us, although technically the banks wouldn't approve.

Sorry to hear this. Ds1 was keen to sort his CTF and the money Dh and I had saved for him. What will you do now?