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Joy Nicholas
Joy Nicholas, Lawyer
Category: Law
Satisfied Customers: 2704
Experience:  Lawyer
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What is best/cost effective way to put money in school

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what is best/cost effective way to put money in school childs name until they are 18 years old?
JA: Where are they? It matters because laws vary by location.
Customer: in south Wales
JA: What steps have they taken so far?
Customer: Who? The money is mine. Wanting to gift some for after Uni. ie a masters degree
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: such as?
Hi, thank you for your message. Can I confirm have you looked into setting up a trust?
Joy Nicholas and other Law Specialists are ready to help you
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Customer: replied 8 days ago.
but as i am 80years old i dont want the hassle!
Customer: replied 8 days ago.
I also think the money perhaps should be kept safe until the child is 20/21yrs
Customer: replied 8 days ago.
ok
Hi, thank you for your message the best and cost effective way is to set up a discretionary trust and you can make it a condition that no money is withdrawn before they turn 18. You should have minimum 2 trustees who can help manage the trust and to whom you give instructions. It is a straightforward process. The best way is to instruct a solicitor in your area to help you set it up. You can find one here: https://solicitors.lawsociety.org.uk
I hope this helps. Best wishes
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Customer: replied 8 days ago.
That number is ***** as mobile is poor
Hi, sorry what do you mean by that?
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Customer: replied 8 days ago.
Great
Did your read my reply?
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Customer: replied 8 days ago.
Someone called Patrick has called me thanks
Ok, no problem. Best wishes
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Customer: replied 8 days ago.
Thank you
No problem.
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Customer: replied 7 days ago.
All done thanks
Good. Please don’t respond to this message or else I will have to keep responding. Best wishes
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