Opening accounts for/with family members

[Greenhorn]

Re: Best value lump sum deposits (Euro)

I checked with Rabo today, as there is still nothing on their website. I am assured that the first €10,000 in each account will get 4.75% and the balance 3.7%. Time to open accounts with 10k for each family member!

 

[Guest127]

Re: Best value lump sum deposits (Euro)

Greenhorn: if you do manage to open accounts in different family members names remember that legally the money is now theirs,

 

[Greenhorn]

Re: Best value lump sum deposits (Euro)

Cuchulainn, thanks for the note of caution! In fact I wanted to set aside an amount for each of my three adult children from my late mother's modest estate and no time like the present.

 

[jpd]

Re: Best value lump sum deposits (Euro)

Greenhorn: if you do manage to open accounts in different family members names remember that legally the money is now theirs,

Not necessarily so - they could be considered to be holding the monies in trust for the beneficial owner of the monies ie the person who provided the funds

 

[oldtimer]

Re: Best value lump sum deposits (Euro)

Interesting jpd, but would that hold up in a court of law?