Registering ( or not ) a Will Trust

medalto

My Mum dies 12 years . My Dad is 93 and still going strong ( ie has capacity, although my sister or  I do have POA for money/health should it be necessary )

£60,000 was paid into a high street bank account shortly after my mums'  death. This has since then been referred to by my Dad as the 'Trust money' .

you now have to register Trusts  ( i cant post the link - google for Trust Registration Service ) and  i think Will Trusts are not excluded. 

When we have asked my dad about this he says either of both of

1. the money was transferred out of the high street bank to a Building society account  several years ago - and he has been declaring any interest  on his tax return

 As the money was transferred out of the  bank the Trust was closed and therefore there is nothing to register

2. When ive asked if a solicitor was involved in  any of this the response is No, and a legally defined trust wasnt actually set up .

We are at an impasse about this.

i cant find anything  about possible penalties for not registering - to hopefully warn what might happen or frighten into action

Any suggestions  for how to sort this out ?

JGB1955

What were the terms of your mother's will?

medalto

Sister and  dont have a copy - or if we did its vanished in house moves etc.

Akking Dad what in the will gets the same responses

MovingForwards

Have you looked to see if probate was obtained? That would provide you with a copy of the will, for a small fee:
https://www.gov.uk/search-will-probate

It may save some of the guess work and clarify the 'trust'.

Keep_pedalling

Does your father have a will that was made the same time as your mother’s? If they made mirror wills it should give you a lead on whether her will actually created a trust.

medalto

thanks everyone - ive got a bit of homework to do and then have chat with my sister .

medalto

Having looked into a bit more ( and  tried to talk to family members about all this )

Ive read  on the findlaw website

Creating a Testamentary Trust in a Will

A testamentary trust is not automatically created upon the settlor's death. The first legal document to take effect is the last will and testament. The testamentary trust must be contained in the settlor's final will.

To create a testamentary trust, the settlor must designate a trustee (and possibly successor trustees) as well as beneficiaries of the trust. The document that creates the trust should also state which assets will enter the trust — real estate, life insurance proceeds, bank accounts, all assets of the estate, etc.

there is a clause in my mothers'  Will "I appoint my said husband and my said children to be the trustees hereof......"

Does this create the Testamentary Trust ?

Is the settlor (obviously, automatically) my mother as its in her will ?

Do all of the settlor/trustees/beneficiaries / name of the Trust  / contents have to be specified in the Will ? 

families.  Grhhhhhhhh

thanks again

getmore4less

Unless there is some very good reason you want assets in a trust might be best left alone.

All assets after a death are held in trust but most get distributed to beneficiary.

What does the rest of the will say.