Should I invest in my child’s name?

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If saving for a longer-term investment of more than five years, you could consider a balanced unit trust that has exposure to offshore and local investments. Picture: iStock/  Prostock-Studio
If saving for a longer-term investment of more than five years, you could consider a balanced unit trust that has exposure to offshore and local investments. Picture: iStock/ Prostock-Studio

PERSONAL FINANCE

OFENTSE WRITES:

I have three children aged seven, 10 and 14, and I want to invest R5 000 in each of their names. I am looking to invest for five to seven years for their education. I am looking at unit trusts. Is this a good idea and should I open the account in my name or their names?

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