Setting up a small trust fund for a baby?

[dazzling]

Don't know if anyone will be able to help me with this, I'm just after some advice, or to be pointed in the right direction at least.

A friend of mine is due to have a baby in May and as a present I want to set up some kind of "trust fund" for him. I want to put £2,000 in initially and then £50 per month, to be increased in line with inflation.

I want the fund to mature when he reaches 21, so he has some cash for a property, world trip (WDW?) whatever he wants really.

But I've no idea how to go about it! None of my friends have ever done anything like it, and all I seem to read is horror stories of so-called financial advisor experts ripping people off.

Can anyone offer any advice?

[joolz1910]

That is a lovely (and very generous) thing to do. :goodvibes

All children are now 'given' £250 by the govt to set up a trust fund, so you could arrange to pay in to that through the parents. There is a limit each year - can't remember how much though. My youngest has hers with Nationwide.

[Netty]

You will also need the babys birth certificate to open any account