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Childrens Accounts

  • neil64
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5 years 2 weeks ago #469249 by neil64
Childrens Accounts was created by neil64
Money from my savings upon maturity of ISAs was placed in the childrens exsisting accounts who are 17 & 14 they have Signatory power & I have no access to them yet the court wants me to put the money back into the Marital Pot my ex Wife let this happen the children live with me on a full time 24/7 basis?
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  • sulkypants
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5 years 2 weeks ago #469255 by sulkypants
Replied by sulkypants on topic Re:Childrens Accounts
Actually the same thing happened to me with my youngest child, i had saved money for her as she was not born when a relative died and left money to my eldest child in a trust fund.

i think it depends on the type of savings account it goes in, it may be worthwhile exploring what type of account could lock the money away, etc, trust funds do, but child ISA did not in my case.

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5 years 2 weeks ago #469256 by neil64
Replied by neil64 on topic Re:Childrens Accounts
the Courts have too much power & common sense regarding the Childrens welfare becomes second place ask Questions regarding how they safeguard the Kids Future becomes pound notes & pence marital act is outdated & not adhered to!

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5 years 2 weeks ago #469274 by rubytuesday
Replied by rubytuesday on topic Re:Childrens Accounts
When did you pay this money into the children''s accounts, and was it a significant sum of money?

The problem with gifting money to children or others is that is may be seen as someone trying to dissipate that particular lump sum and therefore take out of the marital pot.

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5 years 2 weeks ago #469322 by neil64
Replied by neil64 on topic Re:Childrens Accounts
The amount was 20K each from a period of a year ago to 2 years 6 months ago easy to dissipate it where it cannot be traced take the money out of the equation & stash it where it cannot be found but hounourable intentions for future should be ring fenced instead of pointing a misguided finger through the courts.

For the Courts its fine & acceptable for my ex to cohabitate put all household bills in her name & live in Luxury off his 28K he earns & ask no Questions as its accepted as Legal?

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  • WYSPECIAL
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5 years 2 weeks ago #469336 by WYSPECIAL
Replied by WYSPECIAL on topic Re:Childrens Accounts
Even if you can''t actually put the money back into your own name then the court has the power to treat it as if you still had it when the assets are divided.

What other assets are there? Is there enough for your share of the total to be more than £40k?

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5 years 2 weeks ago #469384 by neil64
Replied by neil64 on topic Re:Childrens Accounts
the asset total is around 290k it has been split 50/50 no calculation has been supplied by either the court or my ex wifes solicitor even after repeated requests but that figure also includes CSA money tax credits & child benefit which is in my current account the children have lived with me over 2 years 6 months since my wife left & took up with her new partner a month after we parted company the divorce was adultery on her behalf

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