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Hi, when i was paying the insurance policy it was in my sons name but it was being paid by D/D from my account each month to the insurance company. I started the policy when he was a little boy which matured about 2 years ago. I put the chq into building society into an ISA for 3 years in my sons name thinking everything was fine. As he has got older (now 17) things have sadly changed for the worst.I dont want good clean money which has been earned by myself going to a waster to spend on drugs.
I dont know who has powers of signature, i believe my wife invested it into the ISA & i also believe my son is not aware that he has it. I believe that my son did'nt sign any documents when it was invested although it was invested in his name by my wife.
Are the Building Society where we invested the isa liable to discuss information with us, even though the isa was put in my sons name.
Well it depends precisely on the terms of the mandate but if you opened it with your son as beneficiary but with your wife as signatory they will have to follow her instructions until he is 18 at least. You need to look at the precise account detail but I would imagine you can move the funds