Children's trusts

cassa333 | 01:22 Wed 22nd Sep 2010 | Personal Finance

3 Answers

If you have 4 grandchildren and have left them each £46000 that has to be kept in trust until they are each 21yrs (between 3.5yrs and 13.5yrs left). Is it better to invest in one trust between them or one each?

And why would there be a 50% tax liability for them anyway?

Thank you

inflation over 24 years

Credit card application

Answers

1 to 3 of 3

Best Answer

No best answer has yet been selected by cassa333. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.

-- answer removed --

cassa333

Question Author

Thank you.

It has been sorted out already I just wanted to know which was better. Individual trusts or a joint one.

dzug2

A joint one is less paperwork - fewer tax returns, etc

It's 50% tax because chancellors don't like trusts. If you were to consult a professional advisor he would recommend a trust and investment strategy to avoid much of that tax.

1 to 3 of 3

Do you know the answer?