How do I find out if I am the beneficiary of a trust fund?

Question:

Hi, My mum died about 17 years ago, and family members seem to believe that she opened up a trust fund for me. I was also told that she did and my dad spent it all. How can I find out if she did and would my dad have access to it? Many Thanks Jennifer

Answer:

Hi Jennifer, normally when a trust fund is opened you need 3 types of people:

1) a settlor which is the person who gives the money to the trust, in this case your mother

2) trustees who are responsible for carrying out the wishes of the settlor, such as they do have a responsibility if the have acted irresponsibly or not in accordance with the trust the can be prosecuted, your father may well have been a trustee but he may not have been the only one.

3) a beneficiary who is the person to benefit from the trust i.e. you.

I think if I were you I’d try and find out who dealt with the probate (the legal side of dividing up a person’s estate) on your Mother’s death, this would normally be solicitors but not necessarily so, they should have dealt with any wishes of any wills or trusts.

If your mother didn’t have a will things could be trickier, can I suggest you look into this initially see what paperwork if any can be found and then let me know, please find enclosed my contact details should you have any questions, regards, Steve

Comments? Questions? Use this thread to share your thoughts!
I am an Independent Financial Adviser.

Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.



Steve Weisner ~ Independent Financial Adviser ~ Radcliffe & Newlands ~ 5th Floor Crystal Gate ~ 28-30 Worship Street ~ London EC2A 2AH ~ sweisner@myeggnest.com ~ Tel (0845) 0217000 ~ Direct Tel (020) 73820437 ~ Fax (020) 73740462 www.rad-new.com

Radcliffe and Newlands Ltd is an appointed representative of Sage Financial Services Ltd which is authorised and regulated by the Financial Services Authority.