Im no expert but i dont think your wife coming into money will affect your TD at all..

Welcome to the forum Matt65.

There should be no affect. What are the circumstances behind this?

Hi Chris

If it is solely for her, then it should have no impact at all.

Mark

It was just a hypothetical question as my wife is always entering free competitions to win say £50K.

Aren't we all.......

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Originally posted by upstream

Aren't we all.......

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Thanks for the encouragement

What would happen if someone in a TD were to hit the jackpot in the lottery? Are you required to pay the lot to the TD firm until the debts, fees and interest is settled, or would you just agree on a figure and pay them that all the while keeping the majority of the cash to buy Ferraris and mansions? I remember reading a post a while back about someone coming into inheritance and having it all signed over to the TD and having to wait an eternity to get the surplus back.

Hi upstream.

I think the trustee might want to temporarily take control of the payment while they ensure that the creditors are paid in full, the interest is paid, and their fees are paid.

It really shouldn't take long to sort that out though.

I suppose if you won £10million they might not feel the need to take control of the whole lot though!

Arguing the toss over that with your TD firm would be a pleasant argument to have.....

There could be worse problems!

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Originally posted by Trust Deed Assistant

Welcome to the forum Matt65.

There should be no affect. What are the circumstances behind this?

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It was a hypothetical question as my wife enters free completions to win say £50k and I was also wondering if my wife was to inherit money from her side of the family.
If she were to come into money in either of these cases would that impact my TD?
Also if this was the case would my wife be able to pay the remaining instalments to complete the TD more quickly.

Hi Matt65.

I cannot see why your trust deed would be affected.

She could offer to pay off the remaining contributions due to your trust deed to get an early finish for you. Often a trustee will accept this, but there are arguments against it and they're not required to.