Trust fund curiosity

Cleo9990

Hello everyone,
Thankyou so, so much for your replies! It's so interesting and it will no doubt, knowing our luck be the fish n chips at whitby scenario, not that I'm complaining as that's better than a poke in the eye with a sharp stick!
£10,000 would indeed be a life changing amount to us so we be amazed if it was that much... Trouble is whatever amount, if there is any left, would need to be divided by 9 of my partner's family anyway, so it will need to be a fair bit in the first place. I think the whole thing week be a lovely surprise if it comes to anything and if not hey ho.
The £200,000 scenario is the one I shall dream of tonight though, lol! What a shame someone said that's just raising our hopes!
Seriously, thanks for taking the time to go through in such detail how this works and what it might all entail.
Any more thoughts hugely appreciated xx

sjp999

You do realise that you're now committed to provide a full accounting once the details are known

Cleo9990

Hahaha, yes, lol, I'll let you know what we'll spend the 20 quid on!!
We have had a few awful years money wise and are constantly over our overdraft limit so get fined every month. It's horrible. We're not extravagant by any means....shop at aldi, no holidays for last 4 years, etc, etc.....
To get some from this lovely old great grandad, via the recently passed great uncle bless him would be amazing! We would really appreciate anything and we're not greedy or materialistic people anyway.
That said.....i can't help wondering if that 2000 from all those years ago really will have turned into a lot more.
We know my partner's great uncle had been using it / living off it in his life but what that amount is we have no idea as yet! It might have been a useful little extra for him each year, or maybe more, who knows. I'm so curious now and hope it doesn't take too long to sort out!!

Thanks everyone xx

xylophone

We have had a few awful years money wise and are constantly over our overdraft limit so get fined every month. It's horrible.

https://www.moneysavingexpert.com/banking/cut-overdraft-costs

Cleo9990

Ah, thanks xylophone xx

Malthusian

tacpot12 wrote: »

£2000 in 1950 could be worth over £200,000 today if it had been invested well (10% pa)

It would have to be invested outstandingly well to provide 10%pa given that the income will not have been reinvested, but paid to the great-uncle.

In theory the amount due to the OP's partner, based on the figures given, could be anything from nothing to a lottery win. But 1) the simple rule that it is better to expect nothing and be pleasantly surprised 2) the bigger the amount due, the more likely it is that someone would already have told them about it 3) the income was paid to one person who presumably wasn't living a jet-set lifestyle, and the capital is now going to be divided among nine, all indicates that it will probably be modest at best.

Cleo9990

Thanks so much Malthusian,

Your advice, although depressingly realistic, is at least honest. I now know we are not going to be able to give up the day job in all liklihood. .


So if you were a betting man (who knows , maybe you are!) would you assume a modest amount is likely to be hundreds rather than thousands?

When do you think we'll hear? Do these things take months..... I don' t think I'll be able to wait too long!

When you see phrase lottery win..... something in my mind focuses on that haha!

x

Cleo9990

And no he didn't have a jet set lifestyle bless him! By all accounts he'd been in a care home for a few years! This worries me a little as we all know how expensive they are. There's probably sweet FA left in all reality.

I think £2000 was a lot in 1950 though so he was probably quite a good business man to have sold his farm for that. (I'm purely speculating here of course!)

So what would have been good investments? I know nothing about stocks or shares! I'm just a teacher (not maths!) .... I suppose gold would be the one to invest in for big amounts?

x

bigadaj

Malthusian wrote: »

It would have to be invested outstandingly well to provide 10%pa given that the income will not have been reinvested, but paid to the great-uncle.

In theory the amount due to the OP's partner, based on the figures given, could be anything from nothing to a lottery win. But 1) the simple rule that it is better to expect nothing and be pleasantly surprised 2) the bigger the amount due, the more likely it is that someone would already have told them about it 3) the income was paid to one person who presumably wasn't living a jet-set lifestyle, and the capital is now going to be divided among nine, all indicates that it will probably be modest at best.

It will have paid out income but then again we have to remember what has happened over this time period, from the late sixties to the mid eighties then inflation would have averaged nearly 10% so investments would have been expected to return similarly high levels.

Cleo9990

Thanks bigadaj but I don't really understand what you've said! I'm not a money person so to speak! Certainly don't get savings and investments as I've never had much money to save (or invest!) The inflation averaging nearly 10% bit you mentioned, with investments expecting to return similarly high levels....is that a good sign?