Thank you. As you
appreciate I can only help you with the legalities and I'm sorry to tell you
that the news is not good.
If a trust is set
up with only one beneficiary even though it may specify that the beneficiary
does not get the proceeds until aged 25 or, at the discretion of the trustees,
provided the beneficiary is over 18, they can bring the trust to and under the
rule in Saunders v Vautier.
If there are two
beneficiaries them both of them have to agree.
If the trust account
had been set up with your daughter and someone else, with someone else as a
minor beneficiary (for a nominal amount) than that of the person would have to
The situation as
it is at the moment is that the bank account is an account which, whilst only
in your name, holds it on trust for your daughter. Your daughter is therefore I
am afraid legally entitled to the money, if she wants it, aged 18. Although, if
you will not sign to release it, it can stay there, where it is and she cannot
get it without making an application to court.
quite simply, is that she is 18, she is of majority age and she is entitled to
deal with her own finances as she feels fit which unfortunately would include
spending on alcohol, gambling, or the boyfriend.
At this stage, I
would probably leave it where it is because moving it serves no purpose.
I appreciate that
this is not the answer you wanted but there is no point in me misleading you.
There is no magic way of keeping her hands off this money.
Can I help
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The thread remains open.