Child’s trust fund

Marie140807

The only time I got touchy was someone saying I was just using it for our jolly’s and that’s not the case as I’ve stated we have had a really tough year that I wouldn’t wish on my worst enemy and I won’t go into details as that’s my business I was just asking for advice how I could get a small amount of money out

eskbanker

Marie140807 wrote: »

The only time I got touchy was someone saying I was just using it for our jolly’s and that’s not the case as I’ve stated we have had a really tough year that I wouldn’t wish on my worst enemy and I won’t go into details as that’s my business I was just asking for advice how I could get a small amount of money out

I don't believe the reference to a jolly was actually accusing you of that, but was simply outlining that as one of a range of possibilities, which would elicit less sympathy (from a court) than others if it was true.

And nobody is expecting or pressuring you to divulge any more detail than you're comfortable with, but clearly the quality of advice given on here will depend on the amount of information available.

Anyway, hopefully this will all help prepare you for making a clear and compelling case to the court to release some of the funds, i.e. the sort of practical assistance that you can realistically expect to get on a financial website. There are plenty of other websites where you'd get more of an 'arm around the shoulder' response if that's what you'd prefer.

IanManc

Marie140807 wrote: »

I was in a car accident last year and I put a claim in for my daughter which claim has been excepted now it’s going to court to find out which trust fund it will be put into after such a difficult time last year I’ve decided to go on holiday and told my daughter she good have 500 out of money to take on holiday for spends and to buy a few clothes for holiday solicitor said I would have to attend court with my daughter and that they would proberbly release some of the funds today a different Solictor said whey would probably only reealise some for educational stuff my daughter is now upset that she will possible not get any early any advise please

In the end you shouldn't have told your daughter that she could have £500 out of the fund. You are not in control of that fund and when it was put in trust by the court it would have been very clearly explained to you that the money would be available to your daughter when she was eighteen.

The reason your daughter is upset is because you have misled her.

The court would usually only release funds before the age of eighteen if it was to be used to deal with the child's immediate needs, for example if the child needed an expensive specialist wheelchair or adaptations or an extension to the home were required for the child's disabilities to be accommodated and funding was not available from any other source.

A court would not normally release funds "for spends and to buy a few clothes for holiday" because that is everyday expenditure that parents should be funding if they make the choice to go on holiday, and that is why the second solicitor gave the advice he/she did.

jimjames

xylophone wrote: »

You will be able to put forward her case for the release of funds and see if the court will agree.

From the OP it's not money for a holiday but to give as spending money during the holiday. Not sure a court would see £500 spending money for a child on holiday as best use of long term money.

Mr_Costcutter

I would ask that forum members treat this lady gently. Having received a private message with further details, I believe this lady to be sincere, and only wanting the best for her child. What she has been through is horrendous.

eskbanker

Mr_Costcutter wrote: »

I would ask that forum members treat this lady gently. Having received a private message with further details, I believe this lady to be sincere, and only wanting the best for her child. What she has been through is horrendous.

I don't see anyone doubting her sincerity or that she's had a hard time, but the fundamental question here isn't one of sympathy but of whether or not there is sufficient justification for a court to release money from a trust fund that will have been set up with fairly rigid and stringent conditions (which themselves are intended to safeguard the child's financial welfare).