A financial advisor provides guidance on managing a trust fund for children under 10, emphasizing the importance of seeking professional advice to ensure responsible and beneficial growth of the assets.
A reader asks for advice on how to best grow the money left in a trust fund for her friend's children. Jessie Hewitson, a veteran money journalist and new financial agony aunt for The i Paper, responds. She combines her expertise with life experiences to provide the best advice. The reader is a trustee who wants to maximize interest for the children, who are under 10 and the money will be held in trust until they are 25.
Jessie acknowledges the difficulty of the situation and explains the legal obligations of a trustee under the Trustee Act 2000, which includes seeking appropriate advice on managing the funds.
Trust Fund Financial Advice Estate Planning Investment Childrens' Welfar
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Savannah Phillips Turns 14: From Cheeky Royal to Growing Young WomanSavannah Phillips, the eldest great-grandchild of Queen Elizabeth II, celebrates her 14th birthday today. Known for her playful antics as a child, Savannah is now a young woman nearing the height of her aunt, Zara Tindall. The article highlights her recent appearance at the Blenheim Horse Trials alongside Zara and her family, her birth and upbringing, and her parents' separation.
Read more »
Young People in Oswestry Can Apply for Grants to Fund ProjectsOswestry Town Council is offering young people aged 11 to 17 the opportunity to apply for grants of up to £1,000 to fund projects and activities in the town centre. The funding aims to support ideas that benefit young people, particularly those related to health, wellbeing, mental health, and the environment.
Read more »
Thousands Could Miss Out on Child Trust Fund WindfallHM Revenue and Customs (HMRC) is urging individuals to claim their Child Trust Funds, with hundreds of thousands estimated to be owed an average of £2,212 each.
Read more »
Claim Your Forgotten Child Trust Fund This ChristmasHundreds of thousands of people in the UK could be missing out on an average of £2,212 held in forgotten Child Trust Funds. HMRC is urging eligible individuals to claim their entitlements before Christmas.
Read more »
Hundreds of thousands could be missing out on £2,212 Child Trust Fund cashHMRC urges individuals to claim their Child Trust Funds, with an estimated average sum of £2,212 due to hundreds of thousands of eligible individuals. The scheme, launched in 2005, provided initial deposits of £250 or £500 for children born between September 1, 2002, and January 2, 2011. Funds can be accessed from the age of 18 and it's estimated that hundreds of thousands of accounts remain unclaimed.
Read more »
Young GAA Volunteer Sophia Walsh Receives Translink Ulster GAA Young Volunteer of the Month AwardSophia Walsh, a 15-year-old from St Mary's GAC Aghagallon in Co Antrim, has been awarded the Translink Ulster GAA Young Volunteer of the Month for September 2024 for her outstanding dedication to her club and community.
Read more »