Found very old share accounts that ex had opened in my name

[whatdoido2]

I am going through a divorce, and ex has now moved out.

He has left a lot of stuff here, and today I moved some of his old paperwork out of the eaves to the garage, as one of the dc is having what used to be ex’s bedroom.

I came across the paperwork relating to the share dealing he was doing 20 odd years ago, and found that at the time (around the year 2000) he had set up two share dealing accounts in my name. I don’t for the life of me remember him doing this, or asking me but maybe he did ? There were also some things in his sister’s name, and to a much lesser extent, in a friend’s.

What would be the advantage of using other people’s names to buy and sell shares (sorry to sound ignorant)?

Also, how do I go about checking that these accounts don’t still exist? The two banks in question are TD Waterhouse and the Yorkshire Building Society. What about other random accounts that he might have opened in my name, how would I find out?

Aibu to be annoyed about this or is it too long ago to get upset about?

Having just been to court over divorce finances, I know that ex did not disclose everything - and finding what I found tonight confirms it even more. Not so much those particular accounts which he may no longer have had (he then went on to lose quite a lot of share money - in the early 2000s), but his lying attitude in general, and the fact that he did not disclose all his bank statements, or make any mention of shares and investments (I found evidence of the latter in the bin, but not easy to use that in court).

What should I do about the very old share accounts in my name?

I would be wanting to check there weren't liabilities in my name

Try this site

www.mylostaccount.org.uk

My husband passed away in April - being an accountant, I knew he probably had a few dormant accounts lying around that he’d forgotten about - they managed to find three.

Thank you. In terms of the two accounts from TD Waterhouse and YBS that I found in my name, do I phone them up and ask or they still exist? I don’t have any passwords etc for online banking.

I don’t want to say that I didn’t know that they existed, as there is no point potentially getting my ex into trouble almost 20 years later.

If they're in your name and you have the account details, obviously just phone them up and ask if they're still active. He might have closed the accounts years ago (in which case he hasn't been lying about share dealing accounts). It should be pretty quick and easy to check.

TD does still exist - though it has changed hands a few times. Now under ii.co.uk if that helps.

Thanks smidge - yes I will phone them up - sorry to sound silly - it was more if they do exist and I need to gain access - how would I explain that I have no passwords etc without it sounding strange. At some point it might come out that I have never had access.

Yes I know that he may not have been lying about old share accounts no longer existing - it was more that he had quite a large portfolio at the time and nothing at all was disclosed. Even if all of it had been closed down at the time that he lost money, I also think that he got back into share dealing more recently.

With the investment side to things, I recently found paperwork in the bin that was part of the form you get when you invest money with NS and I. He didn’t declare this either and just kind of jeered at my solicitor when she asked a direct question about shares and investments .

The shares in my name just proves - again because he does it a lot - that he has no qualms lying - he did it a lot throughout the divorce.

Thanks for the information about TD grumpy.

Could he have done it to use your capital gains tax allowance? It sounds like fraud in any case. I'd give the evidence to your solicitor and.

If they're in your name, do they then technically belong to you?

My dh had some old share accounts and some were put in my name for tax reasons at the time. I knew about it though of course. Just ring and check, after all they are technically your accounts.

Yes I was wondering that Evening.

I am pretty sure that he must have closed them, but I want to tie up all loose ends and it makes me nervous in terms of potential liabilities / my credit score (which is fine apparently - having recently bought some stuff that I am paying for in instalments interest free).

Just say they are old accounts, you want to check if they are still active or not before you dispose of the paperwork, and you can prove who you are - just like anything you lose your password for. I imagine lots of people do it.

I am wracking my brains trying to remember if ex at any point told me about these accounts elsie, if he loosely told me at some point.

I certainly didn’t know “I” had a YBS account with quite a lot of money going in and out of it. Makes me wonder what other stuff he might have done like this.

I have for the time being taken the paperwork with my name on it - after all it’s my name! - if he realises, he will be angry .

Thanks BrownTurkey I will do that.

Yorkshire Building Society still exists. I wouldn't have thought there were any issues with your credit score as I think both these organisations only do savings and/or investments (TDS especially - YBS do mortgages but this sounds unlikely here).

He probably put money in your name for tax purposes, but that does make it technically yours. Same as if he took out a loan in your name, it would be you, not him who is liable to repay it.

I would write to the organisations and ask if there was any money/shares in the account and go from there. I might even be tempted to keep quiet about the forgotten money if there is any.

Honestly? If you have no memory of this, the chances are the wool was well and truly pulled over during the divorce. Personally I would see if there’s any money in them and celebrate a windfall quietly if so.

Thank you - yes will investigate tomorrow.

Did you find anything? :)

Check your credit score that should have your active accounts on

Sorry - haven’t looked yet - am a bit of a procrastinator and my to do list is too overwhelming to do anything on it apparently . Will update.

The advantage of doing this is that you get double the capital gains tax allowance and it's not fraud to invest in your wife's name (with her knowledge) although I imagine it probably is to use a sister's or friend's name.

I would imagine he's moved everything into his name by now to be honest but you may be able to find out when the account was closed/transferred and how much was withdrawn.

Definitely check your credit score. I use Middle. It's free and easy to set up and it's worth checking regularly. It will list all known accounts in your name, including in my case one I had forgotten about.

I've just been on that site but was very uneasy about putting all my banking and contact details into a site that looks as though it was designed by GCSE students.

OP, these shares can't possibly affect your credit rating! It sounds as though your ex was financially very abusive.

Hi OP, if they are investments then it was a tax dodge. But you’re the legal owner so fill your boots!

Which have a guide to tracing lost accounts;

www.which.co.uk/money/savings-and-isas/savings-accounts/how-to-find-lost-bank-and-savings-accounts-a4jqc3j05fpb