Trustee Bank Accounts for a Minor

Rooibos

What about a move into the dads property that the son owns or rent it out?

The property was the family home which me and my son moved out from (DV) while ex kept it. I bought us another home so me and my son have moved on. I have asked him if he wanted to move back but no way.

Although renting it out is not without it's own issues - There is a mortgage outstanding which presumably I'd need to take over and would be unlikely to be able to do.

Why sell if he may need a place in two+ years. As above - he doesn't want to live there and is likely to be going to Uni anyway before leaving home proper.

I am beginning to think a well clued up financial advisor may be the solution but finding one of those is probably as hard as finding decent solicitors.[/QUOTE]

getmore4less

g6jns wrote: »

Just curious why you think STEP members are not clued up on wills and trust when that is their speciality. Surely they are better equipped than the the average High Street firm?

Experience dealing with two estates, what I said was not all are as clued up as you would hope.

As the OP has found even within the same firm they don't agree or will give different opinions that both can be suboptimal depending on experience.

STEP is your starting point for this legal arena just try to pick a good one.

g6jns_2

getmore4less wrote: »

Experience dealing with two estates, what I said was not all are as clued up as you would hope.

As the OP has found even within the same firm they don't agree or will give different opinions that both can be suboptimal depending on experience.

STEP is your starting point for this legal arena just try to pick a good one.

Thanks for that. It is very worrying as I probably need to use a STEP for my own purposes. I am not convinced about the statements made by the OP. It all sounds very odd to say the least. AFAIK it is not exactly an unusual basic situation for almost any solicitor to deal with. As always the problem is not what we have been told but what has, possibly quite innocently, not been revealed.

getmore4less

On one estate they tried billing me for work I did.

I suspect one issue is that in some firms those that really know their stuff work on the better revenue generation and act a little like council within the firm for those that deal with the bread & butter cases, like the op we had at least 3 people work on the case and I suspect one of them got moved on.

Not sure their is anything unusual I suspect the probate service are just incompetent.

I only child intestate seems fairly straight forward.

as the child is 16 if smart then getting them involved makes sense.

Tuesday_Tenor

Rooibos wrote: »

It doesn't help that I'm partially deaf so phone calls to discuss with the team are not easy. I know now - if I was going to use a legal team I should have gone local so I could meet face to face.... hindsight is a wonderful thing.

It does rather sound as though you aren't picking up proper explanations. That might be because the solicitors are not explaining things well, or might be because you're not hearing it all. Missing a mumbled but vital 'not' in a sentence could leave you misunderstanding completely!

In your position, I think I'd want all explanations in writing. Yes, it will cost the estate a bit more, but it seems essential in your case. Or if Sister is going to be joint Administrator, perhaps she can deal with all phone calls in future.

I'd also consider changing solicitors to a local firm if face-to-face would help.

Rooibos wrote: »

I just wondered if anyone could explain why I've now been advised to open two bank accounts.

As others have indicated, it may be that there are different conditions attached to (a) funds from penions/death in service benefits [which are not usually part of the estate at all], and (b) funds received through the estate and to be distributed/held as per intestacy rules. So they are in fact two different Trust Funds, and will need two different Bank accounts. However, I'm not sure you've yet been given enough information as to what sort of accounts to set up and what they are to be used for.

Tell the solicitors about your deafness, if you haven't already, and ask the solicitors to put all explanations in writing/e-mail.

g6jns_2

Rooibos wrote: »

Is this "team" some probate service or a proper solicitors office

It's a nationally recognised Probate Service.

This is beginning to make sense. Along with your deafness I now have more understanding of why you have become confused. I would be very tempted to move the work to a local solicitor that you can see face to face. This may mean extra cost but you sound as if you have a good case to get a serious reduction in the fees from this so called probate service. I am sure you would benefit in the long run.

Rooibos

Thanks for your response

In your position, I think I'd want all explanations in writing. I have had explanations in writing and they differ too.

Or if Sister is going to be joint Administrator, perhaps she can deal with all phone calls in future. - Same issue with my sister too - she's partially deaf too.

I'd also consider changing solicitors to a local firm if face-to-face would help. I am seriously thinking this too. My concern though is that the property has sold and I don't want to hold the sale up.

As others have indicated, it may be that there are different conditions attached to (a) funds from penions/death in service benefits [which are not usually part of the estate at all], and (b) funds received through the estate and to be distributed/held as per intestacy rules. So they are in fact two different Trust Funds, and will need two different Bank accounts. However, I'm not sure you've yet been given enough information as to what sort of accounts to set up and what they are to be used for. This is true - I was told on 1st July the money would be paid to me directly, then 3 weeks ago I was told otherwise - both confirmed in writing hence my complaint to the company.

I even had to chase them up to find out where things were up to as I hadn't heard anything, which was when they told me I needed two bank accounts, and the money was NOT to be paid to me directly. If I hadn't rang up I still be believing now that money was to be paid to me and all was in order! And from ringing up for an update to getting the update took over two weeks...

Tell the solicitors about your deafness, if you haven't already, and ask the solicitors to put all explanations in writing/e-mail. I have told each solicitor in the company as I have come to deal with them. However in each case none were advised by previous solicitors. I have put it in writing now that I want all phone calls followed up in writing by email.