We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Trust fund legals?
Kiwiguy83
Posts: 2 Newbie
My wife has 56k nzd in a trust fund in her name. The money was given to her by her ex partners mum. For them to buy a house.
The mother has Alzheimer's and the ex partner has a brother who doesn't know about this money. The ex partner is waiting for his mother to die to get this money after the rest has been split.
Wife and ex partner split dec 2012 and we got together march 2013.
We asked him to provide details to the lawyer of his or his mothers bank so we could have this repaid and a final line drawn between them.
He hasn't done this, no contact has been heard from him for over a year now.
We would like to use this money ourselves to purchase a house but we don't know the legal side of things and if we need his authority to use the money (as we can't get hold of him)
The money is soley in my wife's name
The mother has Alzheimer's and the ex partner has a brother who doesn't know about this money. The ex partner is waiting for his mother to die to get this money after the rest has been split.
Wife and ex partner split dec 2012 and we got together march 2013.
We asked him to provide details to the lawyer of his or his mothers bank so we could have this repaid and a final line drawn between them.
He hasn't done this, no contact has been heard from him for over a year now.
We would like to use this money ourselves to purchase a house but we don't know the legal side of things and if we need his authority to use the money (as we can't get hold of him)
The money is soley in my wife's name
0
Comments
-
What type of trust is it? Who are the trustees? Is this a UK trust since you mentioned NZD?Stephen Covey once said that "when you teach once, you learn twice". That is the primary reason for my participation on the forums as an IFA.
Although I strive to provide accurate information in my posts, there may be the odd time when I fail. Yes I know it's hard to believe but even Your Hero can make mistakes. Apologies in advance.0 -
It's a New Zealand trust. I'm not sure on the details of the account0
-
You need advice from someone familiar with NZ law.
This is a UK forum, so unlikely anyone here can help.
But whatever the country, a Trust is managed by Trustees. Who are the trustees?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards