Saving for my niece?
Saving for my niece?
Author
Discussion

n3il123

Original Poster:

2,854 posts

243 months

Thursday 30th July 2015
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My sister has just had her first baby and I'd like to start saving some money for when she is older to help pay for a car (if they still exist then) or whatever, I'm not talking a lot of money, a couple of hundred quid a year over the next 18 ish years I guess.

I'm not sure what the best way to do this is? I'd prefer that the account isn't in my name in case anything happens to me.

I looked at premium bonds but they can only be purchased by parents or grand parents.

Does anyone have any suggestions?

barryrs

5,044 posts

253 months

Thursday 30th July 2015
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My wife has done this for our niece.

I believe that she opened a child's account with our bank in the nieces name and my wife acts as a trustee with instant access via her banking app.

That way if anything happens to us the account is our nieces name and the funds protected.