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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
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Experience:  English solicitor with over 12 years experience
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We want to set up a fund for a 9 yr-old girl who has just lost

Resolved Question:

We want to set up a fund for a 9 yr-old girl who has just lost both Parents. A fund into which anyone can contribute, and which is managed for her future. What should we be looking at?
Submitted: 3 years ago.
Category: Law
Expert:  UKSolicitorJA replied 3 years ago.
Hello,

The simplest form of trust for the child is a Bare Trust where the trust fund can be accessed by the child when they turn 18.

You or someone else can be the Trustee and the beneficiary is the child. Most banks or building societies offer bare trust accounts and you can shop around for a suitable bank or building society.

You may read more about such a trust here
http://www.hmrc.gov.uk/trusts/types/bare.htm

Hope this helps
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