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Trust Fund (withdrawal)

Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
Hi there,

bit of a complicated if not interesting one here. We have a trust fund for Theo which previously had £855.36 in it last year, now because of the shit hitting the fan it has gone down to £600.36 so that is a loss of £255.00 now both me and Laura do not which to keep the money in here and we would prefer to remove the money and put it in a savings account (locked from access from us to withdraw untill he is 18 or 20 etc) so. is there anyway we can withdraw this? we'll phone them but its saturday atm :(

Comments

  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    I doubt that you would be able to withdraw it. You may be able to transfer it to something else.

    However, you might want to consider leaving it in, because if you did transfer it out now then you'd be taking it when it's at its lowest point. If you look at the long-term view it's more likely to go up again.

    Of course I'm not a financial advisor.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Mist wrote: »
    If you look at the long-term view it's more likely to go up again.

    Exactly! Any good investor looks at a return of 10 years or more, not by monthly/yearly fluctuations.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    you wont be able to.
    Itll go up again before hes 18, dont worry
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    it might be worth not having more money being paid into it though for a while
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    it might be worth not having more money being paid into it though for a while
    Good point SCC, i might look into it,

    any way I can track the current share prices? how would I work that out, i know bugger all about shares
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    You should get a statement of the account with that sort of information in it.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Mist wrote: »
    You should get a statement of the account with that sort of information in it.
    which I have, all it says is Halifax UK FTSE 100 index tracking fund accumulation shares - eta yeah so its not invested in halifax directly, just bloody anything they want :p
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    As other people have said, leave the money in his child trust fund, in the long run the value is highly likely to go back up again. If you want to invest some money in cash savings instead for now you can, but you'll have to look hard to get a decent rate with the base rate being so low and likely to be cut again in the next few months.
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