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
tied up money
pyjamaworker
Posts: 1 Newbie
Help,
Can someone throw some light on this for me. If money is tied up in trust for a certain amount of time. Is this money irretrievabley lost for the period of that trust or can it be "got at" early with some sort of financial penalty????:
Can someone throw some light on this for me. If money is tied up in trust for a certain amount of time. Is this money irretrievabley lost for the period of that trust or can it be "got at" early with some sort of financial penalty????:
0
Comments
-
Hi, we move threads if we think they’ll get more help elsewhere (please read the forum rule) so this post/thread has been moved to another board. If you have any questions about this policy please email [EMAIL="forumteam@moneysavingexpert.com"]forumteam@moneysavingexpert.com[/EMAIL].A little nonsense now and then is relished by the wisest men :cool:
Norn Iron club member #3800 -
The type of trust is important along with the trust rules. The trustees have to follow the rules but some trusts may allow the trustees some discretion on what happens to the funds and when. This may also affect the taxation depending on the set up.
Its a pretty vague answer but the question is too wide and lacking info.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
What kind of Trust is it? What powers have been given to the Trustees in respect of investments? Who are the beneficiaries?
http://www.hmrc.gov.uk/trusts/intro/index.htm0
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
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards