Court ordered Childs bank account with no financial link to EX, Is this Possible??

newbikerbird

Basically, the court has allowed me to move with my children from England to Scotland. (not with their biological Father)

As part of the agreement the Judge has stated a sum of £1500.00 be placed into a bank account as a 'surety' that i will cover all the flights costs for the kids to fly down to spend time with there father.

Here's the rub -

It is to be put in an account with all 3 children's names.
And, no money can be removed without both mine and my Ex's signature. Or, if necessary, the courts.

My ex has an awful credit rating and i do not.
Obviously, I DO NOT want to be financially linked to this man in anyway.

Is there a way anyone can see of doing this??

£253,000 Mortgage with Northern Rock - I'm doomed!!!:mad:
£13,000 on credit cards
£40,000 in Loans :eek:

My Mission this year is to Pay of Credit Cards - well as much as humanly possible. Oh and get something my Nan told me about once - many years ago - a savings account!!
Any advice there also grately recieved.:j

*Louise*

I don't see how his bad credit rating can affect yours in any way. It's not as if it's a joint account - it's the childrens' account - you are boh just trustees.

He can't take the money out without you knowing, and if it has been set down by a judge as part of the settlement, I don't see how you can get out of it tbh

floss2

I would speak to your solicitor, as I am sure they will have come across this sort of account before.

hobo28

So let me get this straight. Your moving to Scotland and the father here has presumably taken you to court to try to prevent that. You've won since courts rarely stop the mother any way. I assume his contact now will be severely limited and made incredibly difficult because of the distance involved.

The only stipulation is that a set amount be put aside so that the father of your children has a little peace of mind that the money will be there for flights and you won't suddenly find yourself unable to pay.

The only drawback for you now appears to be having to share a bank account with your ex and you somehow feel this is unfair?!?!?

You have had children with this man so you will be forever linked. I assume you have no problems with being linked to their father financially when it comes to child support maintenance???

I think frankly your being a tad unreasonable.

LouLee2008

why do people get all high and mighty about things? you dont know what the ex is like? so how is she being unreasonable? why cant he pay for the flights? she is abiding by the law and is willing to do this, she just wants advice on the best way so shes not linked to her ex.

I unfortunatly have no idea what you can do OP, but i just wanted to throw in my 2ps worth lol

Lady_S

As far as I know being a joint signatory on the account won't link you financially, as we had the same problem.

However, in response to Loulee wonder why she feels he should pay for the flights when he isn't the one moving.

Spendless

I knew a Dad with residency who was stopped moving from England to Scotland. He was also prevented from moving more than 50 miles radius of mums home, so I think you should count your chickens that you've been allowed to move. I don't think it's an unreasonable request that money is put into a bank account to fund visits and can see why it has to be joint signatures. Why don't you ask the bank if this makes you financially connected to your ex and explain your reason for not wishing to be.

hobo28

LouLee2008 wrote: »

why do people get all high and mighty about things? you dont know what the ex is like? so how is she being unreasonable? why cant he pay for the flights? she is abiding by the law and is willing to do this, she just wants advice on the best way so shes not linked to her ex.

He doesn't have to pay for flights because the court order states that OP is putting £1500 into a bank account as "surety". Its not for us to guess why/why not. From her post it doesn't sound to me like she is "willing" to do this or else there would be no post. She has been ordered to do it (hence the word court order).

The whole financial link thing just doesn't make sense to me. Its just not a big deal. You have kids with someone, you are linked for life. Whats the big deal about having a joint children's account!?! As others have said, it won't affect her credit rating.

newbikerbird

I think maybe i have been misunderstood.

I am NOT trying to get out of the account or putting money in. When all the children reach 16 the money becomes their's.
My only concern was if there is any financial link. And how i would go about getting the account for them.

To hobo 28- There father will actually get nearly double the amount of time with their dad - which i believe is actually a good thing!! I was saying the whole holidays - no one else!

Their dad said he was concerned i wouldn't pay for flights (which as i am moving i stated to both him and the judge, was only fair i paid) that was why the account was agreed upon.

And for the record he owes me 7 years of child maintenance.
So we are not all money grabbing, evil, spiteful women!!

newbikerbird

Financial links effect your credit rating and given the current climate, and the fact my 90% northern rock mortgage comes to an end soon. I would really like to keep my clean rating.
I agree with you hobo 28 where you state when you have kids you are linked for life - but i shouldn't have to suffer financially.

I was just worried that with a joint account then that would happen.
But the trustee part makes sense and to be honest didn't even cross my mind.

Thanks to spendless and lady S for your advice. I will look in to that now.

nixinix

Not sure if this will help. Many years ago when I lived at home with my dad I was refused a car loan and when I investigated why it was because my dad had a terrible credit rating and as we lived at the same address we were 'linked'. I got over this by getting my credit report and then filling in a form which stated my financial affairs were in no way connected with my dad...which they weren't...anyway it seemed to solve all the problems as after my dad became a bankrupt but I was still able to get credit cards etc as I needed them. Anyway as you live seperately I wouldn't have thought you would have a problem but if you do there is way round it. HTH.