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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34264
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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my granddad has left me a trust fund, however it has my

Resolved Question:

my granddad has left me a trust fund, however it has my mams name on and I can only access the fund when she dies, can this be right?
Submitted: 2 years ago.
Category: Family Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
What is the exact wording of the bequest?
Clare
Customer: replied 2 years ago.

My Grandad sadly passed away in February this year and my Mum told me that before he died he spoke with a financial adviser and set up a trust fund for me. My mum told me that the trust fund is in her name but she cannot take any money out or put any money in and that when she dies the money will belong to me. I am really confused with this, I think that the trust fund is a really lovely thing to do and I don't mind going through a group of trustees to request money, but the problem I do have is the condition that I can only have the money if my mam dies and I don't understand why it is in her name but she cannot use it.

Customer: replied 2 years ago.
Relist: Answer came too late.
Expert:  Clare replied 2 years ago.
Hi
How old are you, and do you know if this was set up within his Will or beforehand?
Clare
Customer: replied 2 years ago.

Hi Clare

I am 35 years old, and the trust fund was not on the will this was set up privately with a financial advisor after he made his will

Expert:  Clare replied 2 years ago.
Hi
Do you know anything more about the trust at all?
Who are the Executors of the Will?
Clare
Customer: replied 2 years ago.

Hi Clare

Thank you very much for your help, you have given me things to think about as I am going to have to find out more information about the trust etc

If its okay to finish off and I will go and to some research.

Thanks for your input

kindest regards

hannah

Expert:  Clare replied 2 years ago.
Hi
It is not impossible that the Trust was drawn up in this way if the plan was to reduce Inheritance Tax.
The starting point is to speak to the Trustees, and if necessary also speak to the Financial Advisor
Clare
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