I already have a PTD taken out in 2013 and everything has been going well. I got married last year however house, bills etc are all in my name. Can my PTD request info on my husbands earnings or access to any of his bank details as I have my own bank account however we also have a separate joint account and we tranfer money into mine from there when he gets paid, so naturally this shows on my own bank statement and both accounts are with the same bank?
Hi kizzime
It's unlikely that your trustee would seek copy payslips etc from your husband, although you do have an obligation to provide accurate information on the household income and expenditure review to assess what percentage is contributed by you.
I'm not sure if you previously resided together when the initial review was carried out or if you are only now residing together and therefore he now contributes to household expenditure. Can you confirm.
The bottom line in these matters is that he would be expected to contribute to household expenses etc, however would have use of his own money for his own expenses etc.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Is your contribution based on you paying just a proportion of your household costs, such as rent etc, or the whole amount? It should be the former, as your husband should also be contributing to bills, so if this has changed since you signed your trust Deed then you really should make your Trustee aware, kizzime.
Thank you for the responses. I got married and then we moved in together so bills etc were my full responsibility since taking out the PTD. He works on a temporary contract and therefore his income may not be guaranteed and he is not entitled to benefits, can you confirm how they would view this?
Hi kizzime.
If your partner's income can be sporadic then some flexibility might have to be applied by the trustee.
However, when he's earning he'd be expected to contribute towards household bills.
The net effect of that would be that it should be affordable for you to contribute more to the trust deed when he's earning.
If that hasn't been happening the risk is that you build up arrears when this is discovered.