Best way to invest lump sum for each grandchild?

Discussion in 'Shares & Funds' started by MsNewbieInvestor, 6th Jul, 2021.

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  1. Millie

    Millie Well-Known Member

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    Slight change of subject, but as commonly occurs, if an adult sets up a bank account for a minor, (bare trust arrangement) and the adult dies, does this automatically go into the child’s name, or is it legally the adult’s account? Does it need specific mention in the adult’s will?
     
    Millie, 7th Jul, 2021
    #21
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    I have covered that in this one:

    Legal Tip 335: Death, Beneficial Ownership and Inheritance Legal Tip 335: Death, Beneficial Ownership and Inheritance
     
    Terry_w, 7th Jul, 2021
    #22
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