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Financial Disclosure - Divorce
sosad1968
Posts: 34 Forumite
Hello All,
I am struggling with the financial disclosure requirements.
Do I need to declare savings accounts set up for our children in their names? We have saved birthday presents and child benefit for them since they were born and hoped they could use this for university or whatever.
Surely if they are declared the children will lose this money as it will be seen as "matrimonial assets"?
However I want to do the honest thing!
I am struggling with the financial disclosure requirements.
Do I need to declare savings accounts set up for our children in their names? We have saved birthday presents and child benefit for them since they were born and hoped they could use this for university or whatever.
Surely if they are declared the children will lose this money as it will be seen as "matrimonial assets"?
However I want to do the honest thing!
0
Comments
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Are the accounts in their names or your & your partners?0
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They are building society saving accounts and are in the childrens' names but I am trustee ( I think that is what it is called?) so I can operate the accounts on their behalf.0
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No they are not matrimonial assets. It is only accounts that are for your sole, or joint with OH, use that you need to declare.
Kids savings will not come into the equation for split of assets.0 -
Would your other half really want to take the kids' savings?! :eek:0
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