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Help... Thinking about IHT, money for grandchildren etc. Any advice

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Witzend Sun 31-May-26 20:36:38

We have been putting cash into Junior S&S ISAs for the Gdcs - now 11, 9 and 6 - for a few years now.
We just have to hope they’ll have the sense not to blow the lot at 18. I wouldn’t blame them for blowing a little of it, though….

I’ve already drafted letters for them, to be opened on their 18th birthdays, in case dh and I are no longer here! Emphasising how much harder it is to earn or save money, than to spend it, not mention that they’re unlikely to be given a similar sum any time soon, etc.

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Graphite Sun 31-May-26 20:22:32

MoneySavingExpert Martin Lewis is good place to start:

www.moneysavingexpert.com/family/reduce-inheritance-tax-gifting/

Here's his podcast on BBC Sounds:

Inheritance Tax & Probate: What you pay, what you needn’t pay, how to find the cash, trusts, probate, gifts & more.

www.bbc.co.uk/sounds/play/p0j4p5c7

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Newdawn Sun 31-May-26 19:42:27

My husband and I have agreed that we need to think about our finances IHT, giving money to gc etc)and haven't a clue where to start.I said we will try and gradually understand what to do. We will seek some professional help if necessary but even then I don't know how to find someone trustworthty and good. By looking at grandsnet just now it seems Trusts arent such a good idea. We have two adult chuldren, one of whom has two young children.
We thought of putting money into junior stocks and shares isas? Not sure them getting lots of money,if it mounts up, at 18 will be good for them. So any tips to do or not to do, or experiences,good and bad, you can share will be gratefully received, thanks

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