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Senior Partner
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Category: Law
Satisfied Customers: 13323
Experience:  Solicitor with more than 30 years experience
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I have been informed by clerical medical that they have an

Customer Question

I have been informed by clerical medical that they have an investment bond with three policy holders names on it in which my name is XXXXX XXXXX them, I did not know it existed.
It states I'm a policy holder. What does this legally mean?
Am I entitled to a third of the value or nothing?
Submitted: 2 years ago.
Category: Law
Expert:  Alex J. replied 2 years ago.
Hi,

Thank you for your question and welcome.

My name is AJ and I will assist you.

How did they contact you? What information are they asking for from you?

Kind regards

AJ
Customer: replied 2 years ago.
Im going through a divorce and on full disclosure this investment bond came up. I was a trustee for my mother in laws trust fund set up by her son who is a wealth manager.
The three names are myself, my brother in law, and mother in law.
The point that needs to be answered is am I entitled to any monies from this bond as I have to disclose it and my wife is entitled to half of my monies if I'm entitled to any. Does the word investor or policy holder mean I do have a claim or not, I don't want to be in contempt of court for not disclosing all asserts!
Customer: replied 2 years ago.
When should I expect a reply
Expert:  Senior Partner replied 2 years ago.
Hi - id this asset was part of the trust fund then you hold it as trustee in terms of the trust. If you are also a beneficiary then you may be entitled to a share but if you are simply holding it on trust then no you are not.

So the answer I am afraid depends upon why and how you hold this bond.

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