Notifications
Clear all
Scottish Trust Deed Forum
5
Posts
5
Users
0
Reactions
1,759
Views
Topic starter
17/01/2012 7:35 pm
Hi, I have recently inherited a few thousand pounds from my grandmother's estate and I have been in a TD for 3 years with about a year to go. What happens with my gran's inheritance? I don't want to lose the money as it is all I have left of her...thanks!
17/01/2012 7:48 pm
Hi
Any 'new' asset between the date of signing and before discharge will go to your trustee. This includes the inheritance unfortunately.
There are a few posts on the subject under acquirenda.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
17/01/2012 8:58 pm
I am afraid thats the downside to a trust deed. The inheritance will have to be handed over to your trustee.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
18/01/2012 9:35 am
Hi GroovinMoomin.
I'm sorry to hear about your grandmother. I can understand that there will be some emotional connotations to handing over this cash, but it will be something that you need to do I'm afraid.
Part of the deal that creditors agree to when they allow a trust deed to become protected is that you will pay more than expected if your financial circumstances enable you to do so.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
18/01/2012 12:11 pm
Hi
I know it seems unfair, but the money is seen as an asset which you have aquired during your trust deed. Unfortunately, it doesn't matter that it is from your grandmother. This must be really hard for you.
Shona is not currently posting in the Trust-Deed.co.uk forum.
