Any advice?

pinkdon

Hi,
It’s been a few years since I’ve logged in - forgot my details so was easier to lurk!

Anyway would appreciate any advice, my partner died almost 3 years ago and we have 1 child together. There was no will and his mum (75) asked me to take care of everything. Which I did, I paid for everything including the funeral. A few months later I went to citizens advice as it all felt too much to cope with and I was told I had taken on the role as executor and had to continue as such.

That is ok as he only had our child and I know all his work/health policies named our child as the beneficiary. Informed pensions companies etc as no one else really knew what was where.

My main question is that one pension he had have decided to pay our daughter a monthly maintenance as obviously her father can’t. I have put this in an account (under her name if that changes anything?) Along with quite a few pension payouts which are away until she is older.

Sorry for long paragraphs, I’m on my phone and trying to make it easy on the eyes! As our child has just started academy which has considerably more costs, would anybody know if I would be able to transfer a portion of that maintenance payment to an account in her name just to cover bus fares/ lunch money etc? I am claiming Universal Credit now, but the cost of the uniforms, school lunches instead of packed lunch, along with bus fares is really affecting us.

I would be grateful for any advice or a point in the right direction, will take a while to get an appointment with citizens advice. It’s not super large amounts of money she will inherit, hopefully enough to get her through her driving test, small car and maybe a bit left over.

MovingForwards

Phone the pension provider and ask them as each pension company may have their own rules about the money being used by, or for the benefit, of the child.

They may even have something on their website under the FAQs or in the paperwork you would have received when they agreed to, or started making, the payments.

xylophone

My main question is that one pension he had have decided to pay our daughter a monthly maintenance as obviously her father can’t. I have put this in an account (under her name if that changes anything?)

That seems fine. Maintenance includes clothing/food/transport/school trips/ holidays etc, in fact all the items for which her father would normally pay/make a contribution.

She could open an account for herself for daily use and a weekly SO be set up from the account to which you refer above - or you might prefer monthly so as to begin training for the time when she will be receiving a salary and need to budget for herself?

https://www.moneysupermarket.com/current-accounts/childrens-current-account-guide/

pinkdon

Thank you both for replying. Unfortunately the company went into liquidation and the administrators are quite firm that they cannot give “advice” as I have phoned for clarification. They were issuing monthly payslips with a BR tax code which is why I initially got in touch. I have all her inheritance going into an account under her name which she knows nothing about but she is now very keen to have her own bank card. I agree it would be a good idea to help her learn about finances but I wasn’t sure that if I was to do anything with this “maintenance” payments if it would be considered my income? All her money is untouched and I’m worried if I start to move anything then it may be considered as mine. The ideal plan would be to set up a standing order each month to transfer a portion to her to use for bus fares, lunch money etc. I think the word maintenance has confused me