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Kids money in my savings account

  • ImanMonday
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24 May 19 #507713 by ImanMonday
Topic started by ImanMonday
Kids savings that are in my account under my name.

I am going through divorce process. I have a bank account that has money I saved for my children that I have not yet put into their accounts. Its the kids money. What do I do so it is not included as martial assets.

Is it too late to move it into their account? Will it look like I am hiding assets?

A lot of it was saved before the marriage.

My husband is very greedy, he will likely want half (as its a good sum)

Or shall I be upfront and say its the kids'money and get husband to agree not to touch it.

He has a house (dont think has much equity) and I dont. Is there something that I can propose to him so he leaves the kids money in my account alone

  • Pink Pantha
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24 May 19 #507715 by Pink Pantha
Reply from Pink Pantha
I have no idea. But surely if you pop the money into a child's ISA or an account where the children automatically take control of it when they reach 18 or 21 this shows that the money will go directly to the children?

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28 May 19 #507748 by ImanMonday
Reply from ImanMonday
Thanks. I will need to access the money to pay for their school fees and deposit on a house for them

  • Cheesestring
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28 May 19 #507759 by Cheesestring
Reply from Cheesestring
Open a bank account on your children's name and deposit money in that. When you make the transfer reference it 'school fees' or 'uniform' etc

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