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    • Happyperson
    • By Happyperson 18th Oct 16, 11:16 PM
    • 3Posts
    • 0Thanks
    Happyperson
    Endowment 18th birthday query?
    • #1
    • 18th Oct 16, 11:16 PM
    Endowment 18th birthday query? 18th Oct 16 at 11:16 PM
    Hi people I would love your help and advice please.

    I am due an endowment for my 18th in a few days time. It has been paid for 18 years by (recently divorced) parents.
    Problem = my dad is threatening to not let me have access to it when it matures soon.
    Can he do this??? I have recently given birth to a baby boy and was relying on the endowment to help me out right now (approx £1,200).
    Any help or advice would be greatly appreciated...thank you for reading people.
Page 1
    • AnotherJoe
    • By AnotherJoe 18th Oct 16, 11:31 PM
    • 4,210 Posts
    • 4,225 Thanks
    AnotherJoe
    • #2
    • 18th Oct 16, 11:31 PM
    • #2
    • 18th Oct 16, 11:31 PM
    Whose name is it in ?
    • Happyperson
    • By Happyperson 19th Oct 16, 8:13 AM
    • 3 Posts
    • 0 Thanks
    Happyperson
    • #3
    • 19th Oct 16, 8:13 AM
    • #3
    • 19th Oct 16, 8:13 AM
    Hi,

    It's in my own name - but was set up by my parents.
    • AnotherJoe
    • By AnotherJoe 19th Oct 16, 8:31 AM
    • 4,210 Posts
    • 4,225 Thanks
    AnotherJoe
    • #4
    • 19th Oct 16, 8:31 AM
    • #4
    • 19th Oct 16, 8:31 AM
    Then I don't see how your dad can prevent you getting the money, the cheque will be made out in your name. If he physically prevents you getting it by withholding the cheque, you could go to the police if the endowment company won't send a new one to your address (I presume you aren't living with your dad) and if he attempted (or did) pay it into his bank account at would be fraud.

    Things must be at a pretty low pass between you and him I guess he isn't very happy with your life choices and this thread would be better off in one of the family forums rather than this one where endowments really means stuff to do with buying houses.

    I don't know how to ask a moderator to move it though,
    • TrickyDicky101
    • By TrickyDicky101 19th Oct 16, 8:52 AM
    • 2,464 Posts
    • 1,619 Thanks
    TrickyDicky101
    • #5
    • 19th Oct 16, 8:52 AM
    • #5
    • 19th Oct 16, 8:52 AM
    The life assured might be in the OP's name but is the endowment policy itself? That's the key determinant as to who the policy will pay out to.
    • dunstonh
    • By dunstonh 19th Oct 16, 11:21 AM
    • 85,148 Posts
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    dunstonh
    • #6
    • 19th Oct 16, 11:21 AM
    • #6
    • 19th Oct 16, 11:21 AM
    You have three levels.
    1 - policy owner
    2 - life assured
    3 - beneficiary if in trust.

    Option 2 - life assured - does not have any ownership rights. The other two 2 with option 3 being the key one when there are children. If the policy is in trust with the op named as beneficiary then it belongs to them. If it is an absolute trust, then the beneficiary cannot be changed. If it is a flexible trust then the beneficiary can be changed by the trustees.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • Happyperson
    • By Happyperson 19th Oct 16, 7:22 PM
    • 3 Posts
    • 0 Thanks
    Happyperson
    • #7
    • 19th Oct 16, 7:22 PM
    • #7
    • 19th Oct 16, 7:22 PM
    Many thanks for such quick replies, the policy is definitely in my name. It's very likely the cheque will be sent to my dad so am I right to say I'll then need to contact Royal London and explain the situation?
    • silvercar
    • By silvercar 19th Oct 16, 9:09 PM
    • 34,084 Posts
    • 142,529 Thanks
    silvercar
    • #8
    • 19th Oct 16, 9:09 PM
    • #8
    • 19th Oct 16, 9:09 PM
    Many thanks for such quick replies, the policy is definitely in my name. It's very likely the cheque will be sent to my dad so am I right to say I'll then need to contact Royal London and explain the situation?
    Originally posted by Happyperson
    They should write first asking where to send the cheque.
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