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JGM
JGM, Solicitor
Category: Law
Satisfied Customers: 10904
Experience:  30 years as a practising solicitor.
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Can I SET UP A TRUST INTO WHICH I CAN PUT SAVINGS AND INVESTMENTS

Customer Question

Can I SET UP A TRUST INTO WHICH I CAN PUT SAVINGS AND INVESTMENTS THAT CAN ONLY BE USED FOR MY GRANDDAUGHTERS SCHOOL FEES AND ANY MONEY LEFT OVER PAID INTO HER BANK
Submitted: 2 years ago.
Category: Law
Expert:  JGM replied 2 years ago.
Thank you for your question.
Yes you can. You can set up a trust for a fixed purpose. Any trust that you set up you can direct the trustees to use the money for certain specified purposes for the sole maintenance and welfare of your granddaughter including payment of school fees.
I hope this helps.
Please leave a positive response so that I am credited for my time.
JGM, Solicitor
Category: Law
Satisfied Customers: 10904
Experience: 30 years as a practising solicitor.
JGM and 2 other Law Specialists are ready to help you
Customer: replied 2 years ago.

Dear Expert, thank you for your answer. Can you draw up a Trust Deed and let me know the Tax implications. Is this allowed and if so how much will it cost. Alan Williams

Expert:  JGM replied 2 years ago.
No, experts on JustAnswer don't draft documents. Your own solicitor has to do that to your specific instruction.

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