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Child trust trust inaccessible since divorce

(10 Posts)
Pigletress Wed 18-Oct-17 18:24:07

Hi all, my son is born in 2005. He is 12 now. The government gave him £250 voucher to invest in when he was born.

I have been divorced for a few years and have forgotten about it. I recently wrote to the HMRC for the account details. When I went down to Nationwide the letter they say my ex-husband’s name is on my account henceforth I can’t access it?! That is highly irritating as my ex has recently remarried and had a new baby so I am worried he might be up to no good with my son’s money.

Can anyone advise on what I should do so that we can both access the balance and not just my ex being in charge solely?

dementedpixie Wed 18-Oct-17 18:26:42

You'll have to speak to your ex if he is the named person for the account. He can't access the funds as they are in your child's name but could change trust fund provider.

dementedpixie Wed 18-Oct-17 18:27:31

I am the named person for my 2 kids accounts btw

AliceLutherNeeMorgan Wed 18-Oct-17 18:27:49

You can't access it anyway (either you or you ex) - your son will get it when he's 18

BitOutOfPractice Wed 18-Oct-17 18:29:33

I was about to say the same. Only your son can access it

Pigletress Wed 18-Oct-17 19:29:32

Thanks all for your reply! I see. On some levels, I am very glad about it! Do you know the balance on the account?

allegretto Wed 18-Oct-17 19:34:10

If you haven't added to it, it will be about £251.50 grin My son has one too and it has hardly grown at all.

dementedpixie Wed 18-Oct-17 20:12:58

Your ex should get an annual statement telling him what it's worth. It depends if it a stocks and shares one or a cash one so there is no set interest rate. Also depends if its been added to as well

EmilyChambers79 Sat 04-Nov-17 15:59:59

No one can access but your son and it gets "given" to him when he's 18.

DS is 10 and got the initial £500 off the Government. I paid in £10 per month for the first year. I checked the value last month and it's currently up at £2700. It's only gained over the years. I moved the investment to the Post Office within the first year and left it.

It will be a nice bonus for him when he turns 18, that's why I stopped paying into it so he only ends up with a small amount as I don't know how he will be with money in 8 year's time!

froggybiby Sun 17-Dec-17 16:53:22

Can you not ask your ex about It? My daughter only got the first £250 & I have never paid into it however it has nearly doubled since. Good luck.

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