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BR and Children's savings
Loopy1
Posts: 223 Forumite
Hi please can anyone advise? My DH is to go bankrupt when we can afford the funds. Can you please advise what happens if both my children come into some inherritence ( £1k each) either before he goes BR or during? One daughter is old enough to have her own bank account but the other will have to have one in our name as she is not 7.
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Comments
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Would the account that you get under 7 not be in trust. So in theory it's their money but you are a signatory.0
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It would remain your children property, even if you are holding it, and as such the OR/trustee has no claim on it.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
As only your DH is going br there should not be a problem by puttting you as the trustee of the account. Some banks will not allow your husband to do that once br.0
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