Difficult family situation here.....
We have become grandparents to a child whose parents we just don't trust with money (it's a long story!).
We want to invest money for our grandchild in a manner that:
1) The grandchild will not get access to until he is 25 years old
2) His parents can't access it either
3) He won't even be aware of the value of the fund until he is 25 (so he can't run up debts against it if he behaves like his parents between the ages of 18 and 25)
Also interested if I can do something similar regarding a pension that he won't see until he is 55.
Do such products exist in the UK?
Thanks in advance
We have become grandparents to a child whose parents we just don't trust with money (it's a long story!).
We want to invest money for our grandchild in a manner that:
1) The grandchild will not get access to until he is 25 years old
2) His parents can't access it either
3) He won't even be aware of the value of the fund until he is 25 (so he can't run up debts against it if he behaves like his parents between the ages of 18 and 25)
Also interested if I can do something similar regarding a pension that he won't see until he is 55.
Do such products exist in the UK?
Thanks in advance