Guest Glynn2547 Posted August 16, 2008 Share Posted August 16, 2008 Does anybody know about the child's trust fund that was set up buy the UK government to encourage children to save. This was introduced around 4-5 years ago, I think you have to leave it in until they are eighteen the child can do with it as they wish. I would like to know if we move to oz can we still continue to put into the account and would he be able to withdraw from it even though he lives in Australia when he is 18. Kindest regards Glynn, Wendy and family :huh: Link to comment Share on other sites More sharing options...
Guest gothicqueen Posted August 16, 2008 Share Posted August 16, 2008 good question, just keeping it to the top for you, my youngest has one too, hadnt really given it much thought! Link to comment Share on other sites More sharing options...
degs Posted August 16, 2008 Share Posted August 16, 2008 Does anybody know about the child's trust fund that was set up buy the UK government to encourage children to save. This was introduced around 4-5 years ago, I think you have to leave it in until they are eighteen the child can do with it as they wish.I would like to know if we move to oz can we still continue to put into the account and would he be able to withdraw from it even though he lives in Australia when he is 18. Kindest regards Glynn, Wendy and family :huh: Child trust funds can be kept open however the government will not put in the further £250 when the child is seven, you are free to invest money into the account aswell. it's something to look into due to the fall in the share price of these trust funds. Link to comment Share on other sites More sharing options...
Guest Trakki Posted August 16, 2008 Share Posted August 16, 2008 You have to leave it where it is but when they reach 18 you can nominate in writing (letter from you and child) a member of your family or a friend to withdraw the money in a form of a cheque (made out to the child) on your childs behalf. You can then either get it sent to your child or payed into an english account that the child can access from Oz. Hope that helps Tracey Link to comment Share on other sites More sharing options...
Guest Glynn2547 Posted August 17, 2008 Share Posted August 17, 2008 Thanks Tracey, Degs and Gothicqueen for your input. you have answered my question Louis is 5 at the mo and will be 8 or 9 when we leave, so we should also get that extra £250. once again thanks to all Glynn and Family Link to comment Share on other sites More sharing options...
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