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Topic starter
27/05/2016 2:12 am
Hi There
I signed a trust deed 3 years ago which was a trust deed over 4 years and I should be finishing it next year in october.
Recently at my work I have been offered to join a share scheme where they take a fixed amount of your wage every month and put this into a trust for 5 years, the share price is based on todays price and in 5 years time you can either purchase the shares with the money you have built up or take your money back
What I need to know is will this affect my trust deed which I should be signed off next year, I will not have access to the money or the shares till 4 years time at the time of my trust deed ending
If it does affect my trust deed, how does it effect it, would it be extended till the shares are due or would they value it at the point of reviewing my finances before signing me off
I don't want to sign up to this if it going to work out worser for me, any advise will be greatly appreciated.
Thanks you
27/05/2016 10:47 am
Hi ianblackwood and welcome.
This is the sort of question that's always best put directly to your own trustee - it's their view that will count rather than ours.
Given that you'll only be contributing for a little more than a year, presuming that the contribution amount isn't very large, and based upon your assertion that you will not be able to access the money or shares anytime soon, your trustee may not be too worried about this.
Having said that, if your trustee sees that you can afford to save this money each month they may decide that you can afford to contribute a little more to your trust deed each month instead.
I wouldn't do anything without speaking to your trustee first.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
27/05/2016 1:00 pm
Hi Ian,
As TDA has advised it's something that will come down to your individual Trustee and their view on this.
You are allowed to have some savings for unforeseen expenses whilst in a Trust Deed but I'm not sure how comfortable your Trustee would be about you acquiring future assets before you are discharged when you could potentially increase your payment to the Trust Deed.
Definitely something you should speak to the Trustee about before doing anything.
If your Trustee allows it I can't see them extending the Trust Deed to realise the value when they are no longer locked into the scheme. If they do allow you to use the scheme make sure you receive confirmation of this in writing from your Trustee.
Let us know how you get on.
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