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Trust Query

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  • Trust Query

    Any advice would be massively appreciated.

    When my grandparents died they set up a trust fund and put £30,000 in it. £10k each for me and my 2 siblings to receive when we turned 21.

    The person looking after the fund is my Auntie.

    When I turned 21 it was quite straight forward and I received it. This is because I still spoke to my Auntie.

    When my sister turned 21 (6 years ago), the situation had changed.The family had fallen out and my Auntie refused to give her the money claiming that my sister was incapable of having it (my sister has mild learning difficulties) and tried to claim that my Mother would pressurise my sister into giving it all to her (due to my Mother’s previous history with mismanagement of her finances).

    She had to get a solicitor involved and after a horrible battle, the money was finally given about 12 months after her 21st birthday.

    The time has come again for my brother to receive his money. He was 21 at the end of August.

    He wrote a letter to my Aunt asking for it and gave her a deadline of Friday 24th September. It was sent recorded delivery... We’ve heard nothing and just know it’s going to be a horrible battle again due to my brother’s learning difficulties and she's waiting for us to contact her again I imagine before telling us we cannot have the money.

    Any ideas? Thank you

    Tags: None

  • #2
    How do I add tags so people can find this? #Help #Legal #trusts #trustfund

    Comment


    • #3
      Under a bare trust, once the beneficiary reaches the age of legal capacity the trustee merely holds the assets as nominees for the beneficiary who can demand that the assets are transferred to him or her at any time.
      If the trustee refuses or doesn't respond to the request i would just send one warning letter telling her that any further delay will result in court action being initiated with an adverse costs application.
      And if that fails instruct a solicitor to commence court proceedings.

      Comment

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