Hi godamskint

Moving into serious ground here possibly. It depends on the wording of the Trust Deed etc, but theres an obligation to norify the Trustee.

I think the non disclosure could result in either of the 2. It may be that the trust is gone and there is a bankrupcty petition.

Mark

Thanks Mark,
I think I will tell my trustee then as I don't want any hassle, it's good to get a wee bit of money which I have never had to spend on the family, I can see where the "trust" word comes from now, thankyou.

Hi godamskint

Depending on the source, I'd be tempted to try and agree a split.

Only fair to be honest.

Mark

Hi Mark,
I have had a thorough look through my trust deed documents and there is absoloutely no mention of windfalls or any extra monies that I could receive within my trust deed, I spoke to my trustee and they said anything over ?ú500.00 I need to tell them about, but I have nothing in writing, I am worried now and don't know what to do. I don't want to spend it incase the force me to bankruptcy but they don't say anything in writing.

Hi All,
Should I contact my trustee regarding having nothing of the above in writing?

Hi there,

It's normal in a Trust Deed that any acquired assets vest in the Trustee. I'm not sure how or whether that should be specifically recorded in the documents; perhaps one of our experts could confirm.

With that in mind I'd think making contact with your Trustee would be appropriate.

It would normally be contained within the text of the trust deed document itself that you will have signed initially, godamskint.

It is good practice for a separate summary of important points like this to be contained on another document to be retained by the debtor, but I guess not all insolvency firms do this

Thanks Kevin and TDA,
I have again looked through all my documents and there is nothing at all in there that mentions it. I will ask my trustee to submit it in writing then it is all above board then, better being safe than sorry.