Extra cash were not sure we have

Malrock

I'm sorry if this is the wrong place(or even wrong site)

My wife has a savings accound that had been setup by her Grand farther and had some money in there from when he dies that was for her when she got married as well as some money for when she reached a certain age. Then at a later date this account was signed over to her name but her mother wouldn't allow her access(she didn't know she could just go to the bank and sort it that way at the time) Then about 2 years ago her mother put some money(something between 2-4k but not sure on exact ammount yet) to avoid the tax man. Then a little while after putting it in there she told my wife. Now were trying to sort things out and wew find that we have 4.5k in an account which her mother is claiming is all hers although isn't wanting it back yet as doesn't need it. Due to the relationship with her mother my wife would rather just spend it and pay off our debts but she is a little worried about going to jail and whatnot. I would assume due to the length of time it's been there that it's hers? anyone got any advice or could point me in the direction of someone who might?

Mikeyorks

If this isn't a wind up ........ it belongs to whoever is named on the account.

Malrock

no it's not a wind up. I assumed this money would be hers but i know if the bank makes an error and puts cash in an account then they have 90days to claim back then it's yours if you spend it before the 90 days and they notice then you are in trouble for steeling as i understand it anyway. My wife is just very worried about taking the money incase there are repacutions. I think the only one's they will be are a fall out with her mother if she ever finds out we spent it but TBH i really don't care and ever since she said to my lil girl"your daddy's a W*****" my wife really has no time for her.

I've also been told that if her mother hasn't entered into a signed agreement for my wife to look after the money then it is hers but if she HAD then we would have to give it to her. Still waiting to get legal advise on this.

Mikeyorks

Malrock wrote: »

Still waiting to get legal advise on this.

Previous advice applies ... it belongs to the account holder. If you move money to someone else's account in order to 'shelter' it ..... you're effectively giving it to them. The only way you recover it ... is if they agree to transfer it back.