Beneficiary turned 18

xylophone

Even after half of the residue from the original Will had been distributed? 

The point is that expenses relating to the Trust do not come out of the personal funds of the Trustees.
If not from the income of the Trust, how would its expenses be paid?

Sea_Shell

Are trusts of this nature subject to CGT or income tax, as any income/growth hasn't been able to be drawn off, as I'm assuming it's not held in an ISA, or hasn't been moved across to one (bit by bit) over the years.

Do minors also have a personal allowance as far as income tax and CGT is concerned?

Or are trusts taxed completely differently?

xylophone

Minor or adult. a person is entitled to a Personal Allowance.

The taxation of a Trust depends on the type of trust.

https://www.taxinsider.co.uk/the-bare-essentials-bare-trusts-ta

https://techzone.adviserzone.com/anon/public/iht-est-plan/Tech-guide-Tax-of-discre-trust

https://www.gov.uk/trusts-taxes/trusts-and-income-tax#:~:text=Trustees are responsible for paying,number of trusts they have.

brooke68

For anyone interested in an update, this is quickly becoming a matter of real concern. All attempts at contact have been ignored, phone numbers and Facebook accounts blocked etc. We have an appointment to speak to a solicitor tomorrow but I have a very bad feeling about this. Meanwhile, one of the trustees is showing off her ‘garden makeover’ on social media. Dreadful, dreadful people.

dawnybabes

Really hope it’s nothing dodgy 🤞

brooke68

dawnybabes said:

Really hope it’s nothing dodgy 🤞

Thank you but I’m starting to think it can’t be anything else.

Sea_Shell

Thanks for the update in what must be a very difficult and stressful time for you and your daughter.

I really hope this works out for you, but this is seriously weird behaviour.

I think your daughter might have to bite the bullet and "go legal" now.

Or jump in the car and doorstep them.  I know you said it's a way (70 miles?) But needs must.   Now hotels are open, I'd consider a longer trip to at least track them down and check their isn't a new Maserati on their drive too!!

brooke68

Sea_Shell said:

Thanks for the update in what must be a very difficult and stressful time for you and your daughter.

I really hope this works out for you, but this is seriously weird behaviour.

I think your daughter might have to bite the bullet and "go legal" now.

Or jump in the car and doorstep them.  I know you said it's a way (70 miles?) But needs must.   Now hotels are open, I'd consider a longer trip to at least track them down and check their isn't a new Maserati on their drive too!!

Either they’ve been dipping in or they have serious issues. Why else would you just ghost someone when all they’re doing is asking for an update on their own money?

Marvel1

Personally I would get in the car and drive the 70 miles to their house.  

Book into a local hotel, if you need to go back the next day if they are not in.

They are basically stealing from your daughter.

RetSol

Either they’ve been dipping in or they have serious issues. 

Or they are elderly, have little experience of acting as trustees, are not enamoured of the responsibility, want to consult solicitors to ensure that their backs are completely covered, are waiting for the solicitors' advice, have to complete some admin themselves in order to wind up the trust and don't like being pestered.

It is under 3 weeks since the original post.  That's less than the blink of an eye in world of trusts and probate....