I’m trying to work out the best way to set up a trust fund for my two nephews. Here’s the deal: we want to seed the fund with a chunk of cash, and add to it over the years, but have the money locked in until the boys reach 18. (Tricky, since one is 8 and the other is 2 … maybe I need two trust funds, but that will surely impact on interest earned).
Critical factors: the fund (or whatever) must be set up by Monday 28th. Interest rates in the UK are low at the moment, so purely interest-bearing accounts may not be the best. The UK government also gives something like an additional 20p per pound of donation to charities. It would be nice to take advantage of that. And finally, we’ll need two signatories on the account – the uncles from both sides of the family.
Anyone else out there got experience of doing this? I spoke to the family accountant and he’s “still working on it”, and the company accountant hasn’t got back to me yet. So lazy web, I invoke thee!
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