MINORS

Minors themselves have limited scope for planning, so much of this stage is reliant on parents and other family members, both for protection and planning for the future. You may wish to consider the following as preparation for discussing the matter with your financial adviser:

1. Money for the kids

2. Making use of the child's personal allowance

3. If school fees are needed, gifts from grandparents may be a useful estate reduction exercise for them.

4. Income arising from gifts from parents; consider tax-exempt or non-income producing investments e.g. National Savings product.

5. Trusts may be a suitable method of passing on assets to the younger family members.

REMEMBER You should not use any information contained on this page as the basis of any action until you have discussed matters with your financial adviser.