Trust account 1 June at 12:53PM in Budgeting & Bank Accounts 3 replies 43 views

Turner5353

Hi all, following a payout from late fathers estate my older disabled brothers inheritance needs to be put into a trust account with myself and another relative as trustees. What accounts are out there, banks don’t seem to advertise them much.
cheers 

xylophone

http://trustsdiscussionforum.co.uk/t/trustee-bank-accounts-from-the-high-street/9555/14
Have you tried Natwest / Metrobank/ Barclays/ Cater Allen?
It  may be a problem at the moment as a personal visit to a branch  is likely to be required.
You may need to leave the funds in the exor account until you can deal with matters.
https://www.gov.uk/trusts-taxes/trusts-for-vulnerable-people

barak

Turner5353 said:

Hi all, following a payout from late fathers estate my older disabled brothers inheritance needs to be put into a trust account with myself and another relative as trustees. What accounts are out there, banks don’t seem to advertise them much.
cheers 

Hi! It wasn't easy 22 years ago when I opened two Trust savings accounts with Yorkshire Building Society. They are still open but I fear they wouldn't open one today. Hope you find some institution that will.

jonesMUFCforever

The Lloyds stable have stopped opening Trust accounts. I agree Cater Allen might be an alternative but check what the costs are to open account - it will not be free to open.