Legal advice on kids savings

anonmoose

I totally agree with sea_shell. I just don't see how carrying on without mentioning it at the moment can be considered illegal. You just 'forgot' to mention it was there. So do what you believe is in the best interests of your child I would say. 

If it was brought to her attention then obviously by law you would have to hand it over when she wanted it.

Albermarle

Sea_Shell said:

On the emotive use of the word "illegal" can I ask a question....

Just because someone has a "legal" right to something, does not making someone aware of their legal rights, actually make that act "illegal".

Wouldn't the OP only be guilty of an "illegal" act if they refused to hand over the money, if requested?   At which point the daughter could go to court to enforce her "legal" right to it.


Another example could be administering an estate, whereby you know X is due £ under the terms of a will, but they don't know about it.   You ringfence that money and don't distribute it (yet), so you have not stolen it, but you just haven't told the beneficiary that they are due the money (yet).    Is there a legal framework by which time you MUST have distributed the estate correctly?   Or could you string out the process for an open-ended period of time, before you've actually done something "illegal", if ever?

I think in the second example about administering an estate, you would be treading in dangerous waters, as an executors role is clearly laid out in law. Although there seems to be no absolute deadline to complete distribution of assets, you can be accused of unnecessary delay etc.

In the case of the OP, even if they did continue to conceal the savings from their daughter, it is probably still technically illegal but seems unlikely that the authorities would take much of an interest in what would be seen as essentially a family issue, and that the Mother was trying to do the right thing overall by not handing over the money at this point.
Of course if the daughter discovered the existence of the savings, she would be in her rights to  demand to have them .

Sea_Shell

Albermarle said:

Sea_Shell said:

On the emotive use of the word "illegal" can I ask a question....

Just because someone has a "legal" right to something, does not making someone aware of their legal rights, actually make that act "illegal".

Wouldn't the OP only be guilty of an "illegal" act if they refused to hand over the money, if requested?   At which point the daughter could go to court to enforce her "legal" right to it.


Another example could be administering an estate, whereby you know X is due £ under the terms of a will, but they don't know about it.   You ringfence that money and don't distribute it (yet), so you have not stolen it, but you just haven't told the beneficiary that they are due the money (yet).    Is there a legal framework by which time you MUST have distributed the estate correctly?   Or could you string out the process for an open-ended period of time, before you've actually done something "illegal", if ever?

I think in the second example about administering an estate, you would be treading in dangerous waters, as an executors role is clearly laid out in law. Although there seems to be no absolute deadline to complete distribution of assets, you can be accused of unnecessary delay etc.

In the case of the OP, even if they did continue to conceal the savings from their daughter, it is probably still technically illegal but seems unlikely that the authorities would take much of an interest in what would be seen as essentially a family issue, and that the Mother was trying to do the right thing overall by not handing over the money at this point.
Of course if the daughter discovered the existence of the savings, she would be in her rights to  demand to have them .

By who?    

If the withheld legacy was a specified amount, not residual.

Keep_pedalling

Sea_Shell said:

Albermarle said:

Sea_Shell said:

On the emotive use of the word "illegal" can I ask a question....

Just because someone has a "legal" right to something, does not making someone aware of their legal rights, actually make that act "illegal".

Wouldn't the OP only be guilty of an "illegal" act if they refused to hand over the money, if requested?   At which point the daughter could go to court to enforce her "legal" right to it.


Another example could be administering an estate, whereby you know X is due £ under the terms of a will, but they don't know about it.   You ringfence that money and don't distribute it (yet), so you have not stolen it, but you just haven't told the beneficiary that they are due the money (yet).    Is there a legal framework by which time you MUST have distributed the estate correctly?   Or could you string out the process for an open-ended period of time, before you've actually done something "illegal", if ever?

I think in the second example about administering an estate, you would be treading in dangerous waters, as an executors role is clearly laid out in law. Although there seems to be no absolute deadline to complete distribution of assets, you can be accused of unnecessary delay etc.

In the case of the OP, even if they did continue to conceal the savings from their daughter, it is probably still technically illegal but seems unlikely that the authorities would take much of an interest in what would be seen as essentially a family issue, and that the Mother was trying to do the right thing overall by not handing over the money at this point.
Of course if the daughter discovered the existence of the savings, she would be in her rights to  demand to have them .

By who?    

If the withheld legacy was a specified amount, not residual.

The beneficiary could certainly pursue an executor for lost interest on delayed payments. Statutory interest of 8% PA would be the appropriate amount. 

Sea_Shell

Keep_pedalling said:

Sea_Shell said:

Albermarle said:

Sea_Shell said:

On the emotive use of the word "illegal" can I ask a question....

Just because someone has a "legal" right to something, does not making someone aware of their legal rights, actually make that act "illegal".

Wouldn't the OP only be guilty of an "illegal" act if they refused to hand over the money, if requested?   At which point the daughter could go to court to enforce her "legal" right to it.


Another example could be administering an estate, whereby you know X is due £ under the terms of a will, but they don't know about it.   You ringfence that money and don't distribute it (yet), so you have not stolen it, but you just haven't told the beneficiary that they are due the money (yet).    Is there a legal framework by which time you MUST have distributed the estate correctly?   Or could you string out the process for an open-ended period of time, before you've actually done something "illegal", if ever?

I think in the second example about administering an estate, you would be treading in dangerous waters, as an executors role is clearly laid out in law. Although there seems to be no absolute deadline to complete distribution of assets, you can be accused of unnecessary delay etc.

In the case of the OP, even if they did continue to conceal the savings from their daughter, it is probably still technically illegal but seems unlikely that the authorities would take much of an interest in what would be seen as essentially a family issue, and that the Mother was trying to do the right thing overall by not handing over the money at this point.
Of course if the daughter discovered the existence of the savings, she would be in her rights to  demand to have them .

By who?    

If the withheld legacy was a specified amount, not residual.

The beneficiary could certainly pursue an executor for lost interest on delayed payments. Statutory interest of 8% PA would be the appropriate amount. 

A price worth paying if you were concerned about protecting a loved one from themselves?

Using OPs situation as an analogy...small estate of grandparent, no probate needed, £1000 left specifically to GD (of which they are unaware), parent is executor.   Parent holds onto that money for an indefinite period of time, and ringfences 8% interest out if their own money.