Hi mk1987

Id be surprised if a trustee could claim any interest in this as you are acting as Trustees to the account, so it can be regarded as an asset as its held in trust.

Can I ask what the circumstances are regarding you being appointed as trustees. Belts & braces in these things

Mark

Welcome to the forum mk1987.

I'm sure you will have realised already, but I think there's a minor typo in Mark's post (we've all done that!).

I'm 99.99% sure that Mark meant to write that funds held in trust for someone else CANNOT be seen to be an asset.

As always with little complexities such as this, the sooner you take personalised one-to-one advice about your situation the sooner you'll have the comfort of knowing your options (and the implications of each of them for you personally).

Hi TDA

Ooops! Just as well you spotted that. I did indeed mean cannot.

I was going a bit numbers and letters blind last night working through a statement of affairs in a sequestation where total liabilities may exceed £100m and I've not even finished it!

The £100m wasn't a typo.

Mark

Wow!

That must be a record?

Hi TDA

It may well be. Interesting case though as it involves a lot of properties abroad in a lot of different countries. Currently dealing with Swedish legislation!

I deffo think it would be easier if I did face to face meetings with all of these foreign solicitors!

I wish!

Mark

Hi Guys, after discussing it in more detail I will be coming off as legal guardian with respect of his financial affairs. This will allow me to enter a Trust Deed. At no point did they want to treat his money as mine and take it for creditors . It was simply could I be seen as a fit person to be named on his accounts if I was in a Trust Deed.

Hi mk1987

I don't think being named on the account would have any effect on the Trust Deed position as this would have been regarded as quite separate. Not being named on it would probably have the same effect to be honest.

Mark