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plclegal
plclegal, Barrister
Category: Family Law
Satisfied Customers: 8536
Experience:  Barrister at law
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Is it possible to set up a trust fund for a child (who is

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Is it possible to set up a trust fund for a child (who is not mine) so that he recevies a payout on his 18th birthday/or when he is accepted to university/college but where his mother cannot have any jurisdiction of the money invested due to risk she will spend it on herself? HOw much would this process cost?
JA: The answer cost depends on the issue and time to respond. You'll see the exact amount on the next page and can decide then. It's way less expensive and more convenient than any face-to-face visit. What steps has she taken? Has she filed any papers in the family court?
Customer: There have been no papers filed, the mother is an ex-girlfriend, and i am merely wanting to invest funds for her childs education but protecting them from the mothers access
JA: Family Court normally sits in a local County and Magistrates' Court. Do you know the location of the court? If not, what county does she live in?
Customer: There is no court involved here, but location is london
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: please connect me to an actual human being

Good afternoon.

My name is ***** ***** I specialise in family law. I’m happy to assist you today and I appreciate that is is important that you find a resolution as soon as possible.

Please note that our discussions on this site are for general information purposes and do not create an lawyer-client relationship. It is always recommended that you consult with a local solicitor for specific legal information.

I'll do my best to resolve this for you, please give me time to review your question and I will revert back to you shortly.

Please bear in mind though that this is an email service and not live chat and therefore I may not respond immediately.

Customer: replied 3 days ago.
Hi Peter, Thankyou, I will await your information.

I'm sorry I'm not available for a call right now - the system generates the call option not the expert. I'll continue to answer online in the meantime.

Approximately how much per year are you considering investing?

Customer: replied 3 days ago.
This will likely just be a one time investment of 9-10,000 pounds, to be stored in somethign like an ISA for him to access when he is ready for college.

Understood. A Junior Individual Savings account has a yearly maximum deposit amount of £9000 - this could be your solution.

The account is managed by a parent or guardian and the child assumes control when they are 16 but cannot withdraw funds until they turn 18. The money belongs to the child not the parent, the parent can't access it.

There is information about this here: https://www.gov.uk/junior-individual-savings-accounts

There's also tax benefits in relation to this type of ISA.

I trust that this assists?

Customer: replied 3 days ago.
Does this guarantee that the boys mother cannot access the funds at any point? Would i need to be the manager of this account until he is 18?
Customer: replied 3 days ago.
would there be any implications to the mothers government benefitssituation once this was set up for the child?
I assume it is his money only and thus would not be counted to her net worth?

Yes my understanding is that the only person that can access the funds is the child themselves, when they turn 18. The parent can 'manage' the account until the child turns 16, but this is limited to:

  • changing the account, for example from a cash to a stocks and shares Junior ISA
  • changing the account provider
  • reporting changes of circumstances, for example a change of address

This would be considered the child's money and would not be counted as an asset for the mother.

Customer: replied 3 days ago.
ok great thankyou for your help Peter!

My pleasure, happy to have assisted today.

Customer: replied 3 days ago.
Ah, i just read that this would not work for me, because i am not a guardian in the terms of that ISA

As I explained the mother can't access the funds, her role would be limited to 'managing the account' as per the examples above. The funds belong to the child, regardless of who manages the ISA.

Customer: replied 3 days ago.
I am merely an ex-partner and not the boys father, i want to provide a fund for the boy but ensure the mother cannot access the funds, i do not think that ISA would work
Customer: replied 3 days ago.
it states: Only parents or a guardian with parental responsibility can open a Junior ISA for under 16s.
i do not qualify for parental responsibility
Customer: replied 3 days ago.
i assume the mother would need to open the isa and then i transfer the funds into it? and that is how this would work?

I understand, as I've explained the mother does not have access to the funds, her role is limited to management as above.

Yes that is how I would assume this arrangement would work - she would open the account and you would then transfer the funds into it.

Customer: replied 3 days ago.
got it ok thanks once again

Pleasure.

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