Get planning children’s financial futures
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Get planning children’s financial futures
We all want a good start in life for the children in our family. After providing for the immediate needs of younger children, thoughts turn towards the future and consideration of longer-term goals. You may want to consider investing for your child’s future to potentially build something significant which they can call on in later life.
It sounds simple, but such thoughts also bring with them a number of questions:
- What are you saving for?
- How much flexibility do you need?
- Which investments are appropriate?
- How much control do you want over when they can access the money?
- How can any tax be minimised?
The first step is to decide the investment goal or goals and the timeframe. Do you want to help a child or grandchild onto the property ladder, support them through higher education, help with a major expense, such as a wedding, or even start a pension pot for them? Perhaps a Junior ISA (JISA) may be a suitable option.
To make plans to secure the financial security of the children in your family, please get in touch, we can explore the specific options for your circumstances.
The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.
It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor. No part of this document may be reproduced in any manner without prior permission.
The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. If you withdraw from an investment in the early years, you may not get back the full amount you invested. Changes in the rates of exchange may have an adverse effect on the value or price of an investment in sterling terms if it is denominated in a foreign currency.
Information is based on our understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from, taxation are subject to change.
Tax treatment is based on individual circumstances and may be subject to change in the future.
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