16th birthday this week.

letthemeatcake

My Son turns 16 this week. I know his Grandparents have saved for him but have no details about the account and they are evasive if I ask. Will the company/bank/building society write to him and make him aware of the account ad how will they know his correct address as everything is in the GP's names? Will they write to his Grandparents first as I'm sure they will not pass any information on willingly.

PlymouthMaid

Surely his grandparents will give him the details of the account at some point. What is it that you are worried about as surely if they have saved for him they will make sure he gets it. Maybe they intend to carry on saving until he is older.

Consumerist

Whereas the GPs may have saved with your son in mind, that doesn't necessarily mean they have opened an account in his name. It could just be a separate account in their own name which they have ear-marked for him. In this way they can decide whether he is likely to squander their savings or, perhaps, they have it in mind to help with such things as university fees, etc.

letthemeatcake

PlymouthMaid wrote: »

Surely his grandparents will give him the details of the account at some point. What is it that you are worried about as surely if they have saved for him they will make sure he gets it. Maybe they intend to carry on saving until he is older.

They have a debt to pay and mentioned they may keep the money to help pay off this debt.

laurel7172

If the grandparents have done something as generous as save for your son, I'm sure you can rely on them to let him know at an appropriate time.

letthemeatcake

Consumerist wrote: »

Whereas the GPs may have saved with your son in mind, that doesn't necessarily mean they have opened an account in his name. It could just be a separate account in their own name which they have ear-marked for him. In this way they can decide whether he is likely to squander their savings or, perhaps, they have it in mind to help with such things as university fees, etc.

They opened an account in his sole name when he was born. Over the years I have opened a JISA but they would not transfer the money into it and last year they mentioned they have an outstanding debt to pay off soon and would need to access this money.

Bennifred

letthemeatcake wrote: »

They have a debt to pay and mentioned they may keep the money to help pay off this debt.

Unless the account is in your son's name, it's their money! If they need to spend it they are quite within their rights to do so. It is absolutely none of your business in any case.

letthemeatcake

laurel7172 wrote: »

If the grandparents have done something as generous as save for your son, I'm sure you can rely on them to let him know at an appropriate time.

I'd hope so but now I'm not so sure because of the conversation last year about needing to pay off the debt. This followed another request to put the money into the JISA I had set up. He's a good lad and would not squander it.

letthemeatcake

Does anybody know if they will be able to write to him at his address?He's listed on our tax credits claim/ child benefit at this address and recently received his NI number.

letthemeatcake

Bennifred wrote: »

Unless the account is in your son's name, it's their money! If they need to spend it they are quite within their rights to do so. It is absolutely none of your business in any case.

It is my business because my son has disabilities and I have declare any income in the near future. If I don't know what it is how can I declare it?

If its in their name I don't care what they do with it because then it never belonged to my Son in the first place and will not be counted.

Consumerist

I regret that I get the feeling that the GPs are feeling harangued by you and have decided to dampen your ardour by suggesting there may not be any money after all.

I think that's what I would do in similar circumstances. Stop bullying them!