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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

AIBU to think my ex wife should not take child trust fund money?

33 replies

InSearchOfAPear · 14/10/2021 20:14

My soon to be 18yr old has just received her child trust fund letter telling her how much she is to be awarded. Also just passed her driving test... Her mum has just announced that it will be £2k less than the total. Her reason is that our other daughter just missed the CTF as she is slightly older. So, some time back a separate fund was started for eldest daughter(ED didn't know about it) but her mum dipped into it and spent the funds on something else. Now mum is telling youngest daughter she wants to give £2k to eldest daughter or actually use it for university fees for eldest daughter. Youngest daughter is now torn and not sure what to do...

OP posts:
Original poster
InSearchOfAPear · 14/10/2021 21:20

Yes that's correct...

OP posts:
TheStarOnTheChristmasTree · 14/10/2021 21:25

Who put the money into the older DD's savings account?

NormanStangerson · 14/10/2021 21:32

@Fiddlersgreen

You can’t take money from the child trust fund accounts, I assume that the older dd had a normal savings account set up for her and despite being in her name, parents can withdraw from it. I know this because my ex took all the money from our sons account
What a cunt. Sad
KaycePollard · 14/10/2021 21:36

And as their other parent how much have you contributed @InSearchOfAPear ?

Original poster
InSearchOfAPear · 14/10/2021 21:57

I can't answer that at the moment - it's complicated but I am putting funds away for them and contributing to university fees at the moment..

OP posts:
Citygirl2019 · 14/10/2021 22:46

My DD got her CTF this year when she turned 18. The child can invest the money else where or withdraw it. My DD withdrew hers to use for a car.

I have an older DS who missed out. It never crossed my mind that DD should share her fund. However, I have a number of friends who are insisting the DC share their funds with older siblings. In fact I appear to be in the minority.

Citygirl2019 · 14/10/2021 22:50

The trust fund covers a few years 18 years ago. The government put funds into a trust fund for all children. You could add to the funds if you wanted too. For many there has been no parental contribution but the funds are worth anything from £1000 - £3000, depends how they were invested. The average seems to be around £2000 amongst my DD friends

Citygirl2019 · 14/10/2021 22:51

www.gov.uk/child-trust-funds

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