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Trust fund for child

  • 25-01-2014 3:51pm
    #1
    Supernintento Chalmers
    Registered Users, Registered Users 2 Posts: 570 ✭✭✭


    I've searched on boards but haven't found an answer to this question.
    I'd like to put a lump sum into some for of investment account for a child.
    The money will remain in the account for about 12 years, at which point it will become accessible by the child.
    I'd like the account to have some form of protection to prevent the money being accessed before the account's maturity date, such as a dual signatory account.

    What are my options?


Comments

  • #2
    Mort5000
    Registered Users, Registered Users 2 Posts: 419 ✭✭Mort5000


    Have a read on this:
    Zurch Child Savings Plus

    Maybe that'll suit your needs.


  • #3
    jathclare
    Registered Users, Registered Users 2 Posts: 40 ✭jathclare


    I set up a saving's account for the sole benefit of my Son under this offering last week. It was remarkably simple to arrange.

    One thing though, this plan is set up to optimise tax for the child, as there is a certain amount you can gift each year which does not decrease the amount that can be gifted as once off. A lump sum of over €3,300 is a different matter.

    As in all things, if the sum is substantial seek professional tax and investment advice.


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