Hi chillypink

No, items held in trust are exempt, however the trustee may query any future payments to these accounts, if its payments from your income.

Mark

Its usally cheques from other people at birthdays and xmas etc, I sometimes pay in small amount but usually this is taken out at xmas to help cover presents.

I haven't told my trustee about these accounts but I assume from what you say my trustee would know about them or find out about them some way due to the TD.

Hi Chillypink

Not necessarily.

The current position is that the trustee has no interest in funds held in trust & If you can show its third party funds for future lodgements then you'll be fine.

Mark

Mark I think I understand & yes any payments from family accounts to the kids accounts & any cheques paid in are easy to show but what about cash payments I pay in? I didn't mention them to my trustee as they are the kids & as I said I just assumed they wouldn't be able to see those accounts tied to me. The kids got a cheque after their gran died but it was payable to me, it was only when I went into the bank they explained I could pay this into my sons account as I am a trustee and then split it between his & my daughters account.
I would be gutted if this affected them, one of the reasons I entered a TD was so I was sorted financially in a few years for when they got older.

Hi Chillypink.

I'd suggest caution about frequently putting money in the accounts and making withdrawals.

To a suspicious mind that might look like something that needs investigating.

I pay 20 a month into my son's trust fund and it has never been queried by my trustee at 6 monthly or annual review.