Transferring an inheritance to a child

Children under the age of 18 can't inherit in their own right. As an executor, you may need to invest their money for them to inherit when they reach maturity.

The safest place for the cash is a building society deposit account, where it should keep pace with inflation. If the child is very young and has a long time before they inherit, you might consider investing in shares, which, historically, tend to show bigger growth. Remember that share prices can decrease as well as increase!

Seek independent financial advice if you have a large inheritance to invest.

Transferring an inheritance to a child

Avoid risky investments. If you blow the child's inheritance on a 'get rich quick' scheme they won't thank you for it; in fact, they may well sue!

Transferring an inheritance to a child

If you invest for a child's benefit, ask the building society for a self-certification form. This form exempts the savings from having tax deducted.

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