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Childrens Money?
SunshineBear
Posts: 188 Forumite
in IVA & DRO
My children are in line for a bit of money from the sale of a relatives house, nothing major, but significant.
Does my IP need informing? Just my OH and me on the IVA.
Does my IP need informing? Just my OH and me on the IVA.
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Comments
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You need to be careful that it is not paid to you. How is the money being paid? Ideally it should be paid into an account in their names until they're 18 as anything paid to you will be an asset in the eyes of the Insolvency Service.SunshineBear wrote: »My children are in line for a bit of money from the sale of a relatives house, nothing major, but significant.
Does my IP need informing? Just my OH and me on the IVA.Total 'Failed Business' Debt £29,043
Que sera, sera.
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As above. Make sure it goes straight into an account in their names ( you are allowed to manage the account on their behalf, but it must be their account.)0
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It will be paid into their accounts. When I say children they are 17, 16, and 12.
The two oldest will use the money for driving lessons and maybe a small car.0
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