What long-term savings vehicle to set up for out daughter?

[CoolHands]

Please help. I don't want a savings vehicle as in stocks & shares or whatever, what I need is:

For myself and my wife to save a regular amount each into an account (for the long term benefit of our daughter - likely to pay for or towards her university fees). However a) the account must not belong to my daughter ie a Junior ISA as we don't want her to have control of it when she turns 18 and b) it must require both mine and my wife's signature to get the money out (to protect it if we get divorced and one of us goes do-lally and wants to blow it on holiday).

Do we just open a joint account in our own names and pay into it? Is this bad tax-wise? Should we look into a bare trust? (paying a solicitor to draw this up puts me off)

Any advice (simple) please. We are not well off and have no ISAs of our own (if that makes a difference to potential advice). And can only afford to start putting £100 a month each towards this for the next year or so. I MUST do something soon as we talked about this for about 5 years already and we've done nothing.

thanks

[CoolHands]

thanks all

but that means the money is the childs and we specifically don't want that. I think we're going to have to just open an isa in our own names so we can control it

[CoolHands]

Hi

for future reference we used HSBC 'Future Saver for Children' account. It is in my wifes name (ie her account) with our daughter as the reference or something. (To allow you to open it I suppose - so adults don't open one in their own name as it pays better interest rates).

http://www.hsbc.co.uk/1/2/savings-accounts/future-...

With an R85 form filled out in the child's name (as the beneficiary of the interest) the interest will be paid gross ie won'y be taxed as if it was our own adult account.

https://www.gov.uk/government/publications/income-...

cheers all