Saving for children
A little saving today makes a big difference tomorrow.
A cushion of savings can transform a child’s life.
From school and university fees to a deposit for a house, saving on their behalf can make a huge difference to their future.
How we can help
We can help you choose the right way to save for a child, so they get the most enjoyment and benefit when the time comes.
Before we suggest anything, we’ll help you work out exactly what you want to achieve.
Who are you saving for?
How much can you save?
Who will be able to access it?
Based on our discussion, we will recommend a bespoke solution to meet your needs, ensuring your child or grandchild will benefit when the time comes.
The sooner you start, the more help you can give.
Case Study
Next generation planning with L&P
Having run a successful family business for many years, the clients approached us for financial advice. Their objectives were to ensure their children and grandchildren would be financially secure and they were looking to achieve a better return than current interest rates on their cash holdings.
At our initial meeting we comprehensively discussed their objectives and subsequently set up a trust and two inheritance tax investment plans. These plans have significantly reduced their inheritance tax liability.
We have also set up several investment accounts for the grandchildren with the objective of achieving long term growth to cover school fees. Personal pensions were set up for their children due to the tax efficient qualities.
We continue to work with their accountant to produce an income for the family in a tax efficient manner. This has included setting up an offshore bond. We have also introduced them to a local solicitor to ensure that their wills are set up correctly.
