Parent and child inheritance

Tygermoth

My mother spent mine on UPVC glazing.

yup. it was to be kept for a house purchase or wedding (from my grandmother)

but she decided i was old enough to pay for my own (and didn't believe in marriage anyway) and she needed the windows doing.

I did not live at home, I was in uni.

peachyprice

patchwork_cat wrote: »

There is a thread on probate board about child inheritance. The OP is considering relinquishing trustee status to the parent. Some are saying no as a parent could misappropriate the funds. I maintain that would be a rare parent. What do others parents think would it be an unusual parent that would not safeguard a child's inheritance?

All it takes is for an unscrupulous family to fall on hard times, face losing their home, unable to put food on the table, or for a parent to have an addictition and bam, the inheritance is gone. Why put temptation in the way?

Laws to safeguard a child's inheritance are there for a reason, because all parents are not created equal.

penguin83

Slightly different but when a child receives compensation for an injury the money is kept in court until they are 18. The parent can ask for money out of the fund before they turn 18 and they are often refused. They ask for money for things like uniform, bedroom furniture, clothes, Christmas presents, holidays etc all of which are usually classed as things that the parents should be responsible for purchasing and not the child. I can see how easy it would be for a parent to spend a childs inheritance if there was nothing governing what it should be used for. x