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Problems gaining access to trust fund

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  • Problems gaining access to trust fund

    My mum died last year.

    We only got Probate a few weeks ago.

    I'm having some issues with my brother and need some advice.

    My mum had a trust fund setup for me which is in my name apparently.

    My brother and her financial advisor are both in charge of this.

    I have to ask my brother for money as and when needed.

    The other issue I have is that she wanted me to have a monthly income from the fund, this was laid out in a letter, which I gave my brother a copy of, he's not responded.

    He's allowed me access to the fund in way of so that I can pay off my current mortgage.

    Thats fine.

    The issue I have is I am concerned that I don't drive, but I will need a new car, he has already refused this.

    He keeps saying he's wants money left for the grandchildren, as in mum's will anything happens to me the grandchildren will get whats left.

    I'm concerned that my brother will refuse me stuff I am entitled to out of the fund, because all he wants is the money to go to the grandchildren, whilst not thinking of me that mum wanted me looked after properly.

    I understand the fund is currently around £400K, so money is not the issue.

    If my brother keeps declining me access to the fund, making it awkward for me to have any money as mum wanted, where do I stand legally please, can I get a Court order!?

    Tags: None

  • #2
    Nice for more information and help please click on debt management
    Learn about the debt management companies in UK debt solutions that could help you get debt free. Reduce Total Debt types: Bank Loans, Pay Day Loans, Credit Cards, Phone Bills, Overdrafts, Store debts, Council Tax Arrears and Utility Arrears

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    • #3
      Originally posted by natasharob View Post
      Nice for more information and help please click on debt management
      But how on earth is this to do with debt!?

      Its a trust fund, I'm having difficulty accessing because my brother is being pig headed!?

      Comment


      • #4
        Originally posted by Lucky4Seven View Post

        But how on earth is this to do with debt!?

        Its a trust fund, I'm having difficulty accessing because my brother is being pig headed!?

        It's one of the spam "contributors" that add adverts to the threads that have nothing to do with the subject.* Just ignore.

        Comment


        • #5
          Sorry to hear of your plight.
          So we can point you in the right direction can you post up the terms of the trust deed, redacting any identifying details.

          Comment


          • #6
            Originally posted by des8 View Post
            Sorry to hear of your plight.
            So we can point you in the right direction can you post up the terms of the trust deed, redacting any identifying details.
            I don't have the paperwork, my brother has it unfortunately.

            The only thing I have is a letter from mum which stipulates I'm to have an allowance each month for the rest of my life, and the will.

            Comment


            • #7
              So write (email will do) to your brother asking for a copy of the trust document, any deeds of variation of the trust, deeds*of appointment and trust accounts.*
              Also send to the other trustee, who is just as liable for running the trust.
              it is your right to have these documents

              Comment


              • #8
                Originally posted by des8 View Post
                So write (email will do) to your brother asking for a copy of the trust document, any deeds of variation of the trust, deedsof appointment and trust accounts.
                Also send to the other trustee, who is just as liable for running the trust.
                it is your right to have these documents
                Thank you I will do that.

                If he still refuses to supply information, then what happens after that?

                Comment


                • #9
                  Wait & see,, not worth anticipating problems, but in the last resort the courts will order him to comply

                  Comment

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