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Scottish Trust Deed Forum
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Topic starter
30/10/2014 8:11 pm
Hi folks, wondering if you can help..
Around 4-5 years ago (before my TD) my sons father died and I became Trustee for money left to him. By law I sought financial advice on where to invest the money and a FA handled everything. It is in a Collective Investment Account which can be withdrawn from for things such as school trips.
Before entering the TD I checked my sons money was not at risk- which it is not, as I am only a Trustee and I had this confirmed with my TD company.
My son has a trip abroad with school next year and it is to be paid for, and had planned on withdrawing some funds to pay for it. (We have no spare money but don't want him missing out!)
I'm just checking, I'm not breaking any rules or anything by withdrawing the money to pay for the trip am i?
31/10/2014 12:16 am
Hi Nemo1.
I doubt there's any issue here.
You might want to bring it to your trustee's attention now so there's no confusion later if they pick up the credit transaction following the withdrawal on your bank statement in the future.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
