I'm looking for any advice on what might happen should my girlfriend move in with me. I'm approximate 1.5 years into my trust deed and with my finances as they are making minimal contribution.
If she moves in does she become liable for my trust deed and subsequent debts? Her personal financial position isn't great as she is a student who works part time and I'm hoping someone here can tell me if her student loans and bursary would be taken into account when looking at the household income levels.
With her own bills etc and
Low income my level of contribution is unlikey to change much is it even wortwile reporting the change?
Hi 422421
No your girlfriend will not be liable in any way for your debts.
It is always best to advise your Trustee. While there may be a change in household income, they will require to take account of her own costs as well, so I'd be surprised if there were any changes.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Thanks for that Mark.
With regards to her income levels she is bringing with her dog and she also possesses a horse and the respective costs. Do you know if these would be deemed luxuries that should sold etc to maximise contribution? Lastly would her student loan and bursary be considered as income.?
Thanks very much Chris
Hi there
As she is not in a Trust Deed, then the dog and horse are fine. She is free to deal with these as she likes and I don't think any Trustee could argue the opposite.
The student loan and bursery can be looked at in respect of total household income, however she will have her own costs and expenses from this, so wouldn't expect any difference in the Trust Deed.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.