Large amount of money need to deposit in savings

Glen_Clark

Malthusian wrote: »

Pretty much. Paranoia because it suggests the ex didn't trust the banks to look after his money.

Or he didn't trust his ex wife/girlfriend to 'look after his money'?
Your excuse for the Duke of Westminster avoiding inheritance tax would apply equally to those who have to pay it. But thats another subject.

bowlhead99

Glen_Clark wrote: »

Your excuse for the Duke of Westminster avoiding inheritance tax would apply equally to those who have to pay it. But thats another subject.

It is indeed another subject, but that doesn't stop you shoehorning your musings on his wealth into totally unrelated threads.

I'm somewhat surprised we've got this far without you surmising that the reason the OP's ex kept his cash round his mum's was to try to keep it under the radar for the purposes of the government GDP statistics, because he agreed with you that their support of the housing market and consequential house price inflation had artificially inflated the GDP measure through its inclusion of residential property rental income.

Anyway, back on topic, as long as the pile of cash is not the proceeds of illegal drug sales (which presumably there's no evidence of), there is nothing illegal about depositing a cash inheritance from you late husband into a bank account. No need to try to hide it. The bank staff might ask questions about where it comes from - given it's out of line with your normal pattern of deposits - which you can answer honestly.

The bank might even lodge some sort of "suspicious activity report" in the background after taking your cash, but that doesn't get you arrested, it just helps police put two and two together if they receive lots more SARs from you and your close associates in the future.

Malthusian

Glen_Clark wrote: »

What else haven't you told us?

What she had for breakfast this morning, what colour clothes she is wearing, where she lives, and lots of other stuff that is totally irrelevant.

What you think the fact that he had two kids with another woman has to do with it I can't imagine. She was still his wife and the cash is still hers, having been inherited under the law of intestacy.

I advise you to be honest with the authorities, because you won't be able to keep it from them, or his other dependants, like you have kept it from us.

From what we've been told it's very unlikely the authorities will have any interest in speaking to the OP whatsoever. The bank that eventually agrees to take the deposit will but that's an entirely different subject.

Glen_Clark

bowlhead99 wrote: »

It is indeed another subject, but that doesn't stop you shoehorning your musings on his wealth into totally unrelated threads.

The reason I mentioned it is because the rest of us can't expect to get away with what the Duke of Westminster has. Thats the relevance to this thread.

Glen_Clark

Malthusian wrote: »

What you think the fact that he had two kids with another woman has to do with it I can't imagine.

You can't imagine she might have her eye on this cash?

Shazza3383

I have been honest the other dependants are not around even if the parents want to give them cash i wouldnt mind but they been adopted and it's down to the kids later on in life if they interested in tracking their parents down that's if they ever did want to. The whole point of this thread was because I wanted to find out what would I need to take to my own bank to deposit a large sum. Which again I was honest to my own bank about the situation, I'm not in receipt of the money in question at present because I wanted to deposit it in the bank and now been told I can't with out the paper trail. I don't want the money in my house I wouldn't feel comfortable. I've always done everything legal and have enough money coming in as it is, this money which the parents wanted to give was their way of help to top up my own savings for a mortgage jus means I get their quicker instead of waiting another year. Got some helpful answers which I thank many of u for we now seeking a solicitor to make sure everything is done correct.

Glen_Clark

Shazza3383 wrote: »

I have been honest the other dependants are not around even if the parents want to give them cash i wouldnt mind but they been adopted and it's down to the kids later on in life if they interested in tracking their parents down that's if they ever did want to. The whole point of this thread was because I wanted to find out what would I need to take to my own bank to deposit a large sum. Which again I was honest to my own bank about the situation, I'm not in receipt of the money in question at present because I wanted to deposit it in the bank and now been told I can't with out the paper trail. I don't want the money in my house I wouldn't feel comfortable. I've always done everything legal and have enough money coming in as it is, this money which the parents wanted to give was their way of help to top up my own savings for a mortgage jus means I get their quicker instead of waiting another year. Got some helpful answers which I thank many of u for we now seeking a solicitor to make sure everything is done correct.

Thats Great. I am certainly not accusing you of anything. I just didn't want you to be tempted into the sort of dishonesty that some posters have suggested.

alanq

Shazza3383 wrote: »

this money which the parents wanted to give was their way of help to top up my own savings for a mortgage...

You have told us the money was your husband's which he left with his parents for safe keeping. If this is accurate then because he died without a will, and you were still his wife at the time of his death, you should have inherited his entire estate including the cash to do with what you wish. By sometimes describing the money as a gift from your in-laws you will cause yourself problems when trying to explain the powers that be where the money came from.

Shazza3383

Suppose using the word gifting was wrong seeing wasn't actually their money in the first place just that they holding for him for safe keeping. But I see it like a gift because they didn't have to tell me and could have kept quiet spent how they pleased the fact they wanted to give to me is a really nice gesture and their way to make amends whilst helping me at the same time to take my first step on the property ladder quicker. We have now made contact with one of those lawyers that deal with state of assets without a will they will be advising us on how to proceed without any backlash or trouble associated with money laundering with a charge of course but better than getting into any trouble thanks everyone

Malthusian

Glen_Clark wrote: »

You can't imagine she might have her eye on this cash?

What does it matter? She can have her eye, her nose and her spleen on it if she likes, there was no Will and it's the OP's money, as per the law of intestacy.

OP - employing a solicitor is probably a good move if you don't feel able to deal with the banks yourself. Good luck and let us know how it goes.