I too have often wondered about this, and would be interested to hear the answer!

Erring on the side of caution, I take the approach of declaring (in writing) anything and everything that my trustee might be interested in, no matter how trivial.

Better being too cautious than too complacent. It would be very easy to overlook something that might come back to bite you later...

Can a trustee actually check your Bank Account, without your consent........?

Hello CAR038,

You should expect to be asked to produce employment payroll documentation which would include information on bonus payments and overtime, and possibly bank statements as well.

Trust Deed Assistant is right, your trustee would normally look for verification of your income on a regular basis.

Hi CAR038

The answer is yes, the Trustee could get info on the account. S.38(2) allows this from memory.

In reality, it is unusual as he may well just ask for copy payslips or indeed copy bank statements from you.

Mark

Damn, I better hide my secret Swiss Bank Account....

Hi Mark, thanks for your reply, what would happen if the trustee found information regarding a windfall. Would the trust deed be ended or worse if the money was spent and not declared?

Hi Car038

depending on circumstances, there's several options available.

You should keep in mind I suppose that aquirenda ( windfalls etc) automatically vest in your Trustee, so may be regarded as an attempt to defeat the interest of creditors and move from a civil matter to criminal!

Mark

Hi Mark

OMG quite serious then! I didn't realise that this could happen. I had better make sure that all information is passed on to the trustee regarding changes in income etc. Would criminal mean a fine of jail?

Hi Car038

I think we are probably getting ahead of ourselves, but if you're interested, the law states a fine or imprisonment or both.

Mark

Hi Mark

Thanks very much for your time and information