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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34234
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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My sons father passed way and left money but no will. My son

Resolved Question:

My sons father passed way and left money but no will. My son has 3 half siblings to his dad's second marriage( which also ended in divorce). My son is taking care of the finances and wants to put money away for his siblings future but there mum insists she wants to put the money in there accounts and use it to buy presents over the next year's from there dad. my son want the children to have the money when they are of age and use it towards either college or a car or whatever they decide. Where does he stand. Does he have to hand it over, should he keep hold of it till they are older. He doesn't want there mum to have access to the money as she has already asked if she could borrow it then replace it as she is remarrying
Submitted: 1 year ago.
Category: Law
Expert:  Clare replied 1 year ago.

Thank you for your question

My name is Clare

I shall do my best to help you but I need some further information first.

How old are his siblings and how much is involved?

Customer: replied 1 year ago.
Hi. They are 5,12 and 15 it would work out at about 800 each.
Expert:  Clare replied 1 year ago.

In fact your son is under a duty to keep the money safe until they are each 18 years old - indeed he would be personally liable to them if the money disappeared.

With Interest Rates so low he could consider purchasing Premium Bonds in their names - and offer any wins to the mother to use for gifts.

I hope that this is of assistance - please ask if you need further details

Customer: replied 1 year ago.
We did look in to premium bonds. So basically, she has no legal right in saying how the money is invested. As long as the children get the money when they are 18?
Customer: replied 1 year ago.
If he buys premium bonds, in their name,can he have them sent to him to keep safe,
Expert:  Clare replied 1 year ago.

Yes he can

Clare and other Law Specialists are ready to help you
Customer: replied 1 year ago.
Fantastic service. Five star for the team