Education fund... (held in trust)

Hi there,
Just looking for some advice... I have a lump sum to invest for my younger brother (12) it's part of an inheritance left to him by our mother for his education so I need something that I can access easily for books/tours and the like and hopefully give some return at the same time, preferably without him being able to find out how much money is there or being able to access it himself. I've checked out a few places and have already gone through the rigmerole of getting him saving certs for the rest his inheritance with the post office and am now stumped when it comes to what I thought would be a relatively straightforward thing to sort out. Any idea's would be appreciated....

Could you set up a joint account, where it requires both signatures for a withdrawal? That way he cannot access the funds without your permission.

Is the money fully in your control at the moment - no joint signatures etc? At 12, I'd have thought he is well old enough to know how much is there, and to play a part in discussions around how it should be spent. Bear in mind that it is very likely that 3rd level fees will be reinstated by the time he reaches college age.

You need to work out how long you are prepared to lock some/all of the money away for and whether you are prepared to risk some of the capital in order to maximise your investment return.. If you can lock some of it away for 5 years (e.g. his college fund), you will be able to get a better rate over this period.

HI,
Thanks for the advice am still mulling it over. The funds are fully in my control at the mo and yes I do think he will have to find out how much is there as there doesnt seem to be any way around not having him involved with the account but I also remember what its like to be 12 and realise that at that age he is more likely to think of instant gratification rather than taking the long term view! Locking some away for college does seem the way to go right now, will have to look into what the banks are offering.