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Parents and carers Saving for future

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Saving for future

NAS64412 12 days ago

First time posting here
Is there anyway to save for my daughter's care in the future when I am no l9nger able to be her carer?
Is there any kind of savings account that won't impact on her benefits or have tax implications for me (if the interest builds up enough).
I would rather have a savings account for her than set up a trust.

Chloe Mod 12 days ago

Hello NAS64412 ,

Thank you for sharing this with the Community. You may find it useful to have a look at our information on personal finances and planning for the future:

https://www.autism.org.uk/advice-and-guidance/topics/benefits-and-money/personal-finances/planning-for-the-future

All the best,

ChloeMod
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NAS64412 12 days ago in reply to A

Thank you. She is 22. I am her carer but I am over 60 and want to make sure any money she may inherit will be able to go to get her good care and not to HMRC. Obviously I want it to be done properly
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A 12 days ago

Hi there, you don’t mention what age she is, but assuming she is still a child, you could open a Junior ISA for her, which would help you build up a nest egg for her, sheltered from tax. There are cash and stocks and shares versions of these.
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