child trust fund howdy69

#1
I am an executor for a child who has inherited £200,000 and will also receive £1,000 per month until he is 18 years old. Where can I put all this money ? I've been told trust funds do not exist any more and Junior ISA's only allow £4000.

#3
The child is 11 and will almost certainly have a CTF - it can be transferred to a JISA and you could use the process described here



http://forums.moneysavingexpert.com/showthread.php?p=70479762#post70479762



Potentially, if you act quickly, you could get the CTF contribution in before switching, the JISA contribution after switching and the 17-18 contribution in as soon as the new tax year starts.



The highest interest is currently available from Coventry Building Society.



https://www.coventrybuildingsociety.co.uk/consumer/savings-accounts/childrens-accounts.html



You can make the full contribution to the JISA in succeeding tax years from the Trustee Account.



See my previous posts. http://forums.moneysavingexpert.com/showthread.php?t=5611767

#4



I am an executor for a child who has inherited £200,000 and will also receive £1,000 per month until he is 18 years old. Where can I put all this money ? I've been told trust funds do not exist any more and Junior ISA's only allow £4000.
Originally posted by howdy69


Are you sure you are not confusing a trust fund for a child with the Governments Child Trust Fund (replaced by a JISA)?

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