Children Trust Funds
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Willie Said:
Are there Trust funds for the Gosselin Children?We Answered:
i would think so.Francisco Said:
how many child trust funds can I open?We Answered:
You can only open on Child Trust Fund for your child and you can't put in more than £1200 each year.There's nothing stopping you opening another savings account for your child for any money you want to put aside over the £1200 limit, but it can't be a CTF and you don't get the CTF benefits. That means that legally the money continues to belong to you and the balance will taxable in the normal way.
Joan Said:
Will scrapping the child trust fund mean more children in poverty?We Answered:
As the fund will not be available to the beneficiary until they are no longer a child, I don't see how it could have impact at all.But it could create more impoverished and benefits dependent adults. After all it was a little lesson from our Labour government explaining to children from a very early age that the Government would give you money for nothing,
I wonder how a worker on minimum wage used to feel about paying towards a £250 handout to say, Richard Branson's or Lilly Allen's children?
The Labour government's policy of making as many people as possible dependent on the State and therefore natural Labour Party supporters was utterly deplorable.
My evidence for this assertion:
Paying fit young men dole and bringing in immigrants by the million to do the work.
Taxing people on minimum wage and making them go cap in hand to the government for benefit handouts.
Extending family credit handouts to couples earning £50,000 a year!
Allowing the sick note work shy to increase to 2.6 million
Increasing the people employed by the government by a 1.5 million since 1997
And always remember either the rest of us are paying for this nonsense or they simply spent money they did not have and borrowed the difference.
And we are just starting to find out what that will cost us.
Clifton Said:
where can I find details of different children's funds/trusts available to parents?We Answered:
http://www.thisismoney.co.uk/ctfHilda Said:
How can I setup a children trust fund for special classes, lessons, school clothes, school books, etc?We Answered:
what country are you inthese sound like 'extars'--nothing that can be a tax sheltered fund--just set up a regular savings account