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    • badger09
    • By badger09 13th Nov 12, 3:48 PM
    • 3,688 Posts
    • 3,002 Thanks
    badger09
    • #2
    • 13th Nov 12, 3:48 PM
    • #2
    • 13th Nov 12, 3:48 PM
    If you end up having to to a prison sentence, just wondering what happens, if anything, to the money in your name - specifically ISAs & from that also savings accounts. Not so much bank accounts, but while i'm enquiring about the first two, i may as well include that in the question also. Genuine question.
    Originally posted by Use her name
    Can't see any reason why anything should happen to your ISA if you have to serve a prison sentence. What do you think might happen ?

    As far as normal bank accounts are concerned, if you're not going to be liable to tax because of a long prison sentence, you could reclaim any tax overpaid and register for gross interest if applicable.
  • Use her name
    • #3
    • 13th Nov 12, 3:54 PM
    • #3
    • 13th Nov 12, 3:54 PM
    Can't see any reason why anything should happen to your ISA if you have to serve a prison sentence. What do you think might happen ?

    As far as normal bank accounts are concerned, if you're not going to be liable to tax because of a long prison sentence, you could reclaim any tax overpaid and register for gross interest if applicable.
    Originally posted by badger09
    This isn't for myself, it's for a close friend - but them having never been in this position before (& no internet to ask), i'm trying to help out. Better to prepare & not need to than need to & not prepare is my view.

    The potential outcome may be: community service, fine, suspended sentence. Any of these 3 will equate to a major relief. However it's a reality that there may be a prison sentence. A few years at the very tops i would imagine, but obviously nobody knows.

    Didn't know whether the savings/ISAs would automatically be given up to pay any sort of compensation/court costs etc etc. Don't really know how it all works tbh, which is why we're asking.
    • badger09
    • By badger09 13th Nov 12, 4:28 PM
    • 3,688 Posts
    • 3,002 Thanks
    badger09
    • #4
    • 13th Nov 12, 4:28 PM
    • #4
    • 13th Nov 12, 4:28 PM
    This isn't for myself, it's for a close friend - but them having never been in this position before (& no internet to ask), i'm trying to help out. Better to prepare & not need to than need to & not prepare is my view.

    The potential outcome may be: community service, fine, suspended sentence. Any of these 3 will equate to a major relief. However it's a reality that there may be a prison sentence. A few years at the very tops i would imagine, but obviously nobody knows.

    Didn't know whether the savings/ISAs would automatically be given up to pay any sort of compensation/court costs etc etc. Don't really know how it all works tbh, which is why we're asking.
    Originally posted by Use her name
    OK I understand.

    I have no expertise in this area, but common sense would suggest that any court would expect you to use available assets, such as savings whether in an ISA or not, to pay any fine. CAB are probably a good place to start for specialist advice

    http://www.citizensadvice.co.uk/Documents/CAB/Docs/Fact%20Sheets/Dealing%20with%20Debt/Court%20Fines.pdf
  • Use her name
    • #5
    • 13th Nov 12, 4:56 PM
    • #5
    • 13th Nov 12, 4:56 PM
    Thanks for the help. The question is more regarding what's enforcable than expected. Not to say that the chap would dare take an attitude & challenge, but it's still just good to be in the know.
    • jimjames
    • By jimjames 13th Nov 12, 5:17 PM
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    jimjames
    • #6
    • 13th Nov 12, 5:17 PM
    • #6
    • 13th Nov 12, 5:17 PM
    Unless there are fines to pay which would come out from any assets the remaining money would be there for them once they leave prison.
    Remember the saying: if it looks too good to be true it almost certainly is.
    • thenudeone
    • By thenudeone 14th Nov 12, 12:14 AM
    • 4,400 Posts
    • 1,905 Thanks
    thenudeone
    • #7
    • 14th Nov 12, 12:14 AM
    • #7
    • 14th Nov 12, 12:14 AM
    It may worth them giving a trusted friend or relative a power of attorney (although some banks/BSs don't like them) to manage things like this.
    We need the earth for food, water, and shelter.
    The earth needs us for nothing.
    The earth does not belong to us.
    We belong to the Earth
    • Eponym
    • By Eponym 14th Nov 12, 1:47 PM
    • 293 Posts
    • 204 Thanks
    Eponym
    • #8
    • 14th Nov 12, 1:47 PM
    • #8
    • 14th Nov 12, 1:47 PM
    Payments regarding costs and compensation depends on the charges and sentence.

    Typically costs are not ordered where the sentence is imprisonment, but he may still have to pay compensation.

    If he is ordered to pay costs and/or compensation he will have to pay it from whatever funds he has.
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