• Welcome to the LegalBeagles Consumer and Legal Forum.
    Please Register to get the most out of the forum. Registration is free and only needs a username and email address.
    REGISTER
    Please do not post your full name, reference numbers or any identifiable details on the forum.

Removing co signer from kids frozen savings account

Collapse
Loading...
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Removing co signer from kids frozen savings account

    Hi,
    can anyone tell me whether I have a good case please:

    my kids were gifted a large amount of money from their grandmother (my mother)

    her and I are both to sign (co signers)

    huge falling out, she took £4000 out without my signature, bank says it was human error and Ombudsman agrees, so bank freezes accounts.

    she now wants ‘her’ money back.

    ive has a year of abuse from her (police involved) so I now have no contact with her. She’s got a solicitor to threaten me with criminality if I didn’t remove my name and when she got nowhere with that she has offered me money and if I don’t take it she is threatening to take me to court to have my name removed.

    but I want to taker her to court to have her removed from the accounts so she’s no longer in our lives and we can access the money for the benefit of our children (it was intended to be used when they were growing up, not as a lump sum to be received at 18).

    i think I have a good chance as it’s legally the kids money, I’m their mother and my mother has acted appallingly

    any thoughts, advice or experiences of a similar situation? It’s been going on for a year now and is dragging me down.

    thank you
    Tags: None

  • #2
    So let her take it to court. The court may well decide that as the money has been gifted to the children then your mother should be taken off the account so that the money can be released for the benefit of the children

    Comment


    • #3
      She cannot legally take her money back. From the facts there were no conditions on the gift and therefore the money belongs to your children.

      Also it seems to me that what you and your mother created was a trust, whether you meant to or not. And the intention of the trust was to be used for your children when they were growing up.

      Regarding the £4000 your mother took, if it is deemed a trust was created then your mother has breached her duties as a trustee and could potentially be sued for the £4000. But also the bank could be negligent in allowing your mother to take the money without your signature. So there potentially could be an issue with who was at fault.

      In regards to removing your mother from the account. Its probably not going to be as simple as that because the money in the account actually belongs to your children and not the account holders.

      I would wait for some more practical and experienced advice.
      The information I supply is provided for informational purposes only and, should not be construed as legal advice.

      Comment


      • #4
        Thank you for your advice. I’m hoping to attempt to remove her from the accounts so the children can access the money (vis me) otherwise they remain frozen until she dies.

        Comment


        • #5
          I dont know the process of taking removing a person from a joint account but this scenario is completely different to the traditional couple who puts their money into an account. I personally think you have a very good case to have her removed of not only the account but also potentially the trust that may have arose.

          Firstly she has taken money that is not hers, she would know from the outset when the account was set up two signatures would be needed. Also the fact she has taken the money for herself which is to be used for the children.

          I would definitely seek some face to face legal advice, most solicitors do a free 30 minutes so you can obtain free advice and they will be able to direct you down the best route.
          The information I supply is provided for informational purposes only and, should not be construed as legal advice.

          Comment


          • #6
            Thank you! I’m going to draft all the facts up, with her arguments versus mine and speak to a solicitor. All the points you have raised are very true. Unfortunately though the bank is not cooperating, citing it a civil matter. They refuse to tell me who the cheques were made to. However I’ve since found out that no 3rd party cheques can be raised from this savings accounts. Strangely though the ombudsman tells me that since my mother says the money is hers they will not agree that it was an improper withdrawal as the money could have been used for the children. My argument is that without the knowing who the cheques were for disadvantages me as I can’t fight the situation. I’ve since rewritten to Nationwide asking for their comments about 3rd party cheques. Still awaiting their reply. The situation is a shambles.

            Comment

            View our Terms and Conditions

            LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.

            If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.


            If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.

            Announcement

            Collapse

            Support LegalBeagles


            Donate with PayPal button

            LegalBeagles is a free forum, founded in May 2007, providing legal guidance and support to consumers and SME's across a range of legal areas.

            See more
            See less

            Court Claim ?

            Guides and Letters
            Loading...



            Search and Compare fixed fee legal services and find a solicitor near you.

            Find a Law Firm


            Working...
            X