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Scottish Trust Deed Forum
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Topic starter
19/06/2011 10:29 pm
hi!
i have just started a trust deed and recently i have received a sum of cash! do i need to pay all of this to the trustee? i have a bank account seperate from that of my current account. can the trustee access this account?
Topic starter
19/06/2011 11:07 pm
sorry folks, i wrote cash! should have wrote bankers draft.
19/06/2011 11:31 pm
When signing the trust deed you entered into a legally-binding contract saying that you will inform your trustee of any such windfall, davyjones, so yes you must tell them.
Whether they ask for you to pay it all into the trust deed is another matter - probably depends upon what the money was for.
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Topic starter
19/06/2011 11:44 pm
the money is inheritance. will they ask for all of it?
20/06/2011 9:10 am
It may well be required to help repay your creditors davyjones.
Under the terms of your trust deed I'd imagine you need to make your Trustee aware so that they can then advise you of any requirements.
A failure to tell your trust deed company could have serious consequences for you.
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