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Is creating a child trust fund a way of taking money out of the divorce pot?

3 replies

Antoniabegonia · 01/09/2014 04:47

I intend for my granddaughter to have my share of a jointly owned house when I die (will made accordingly). I also have 20K savings which will go to GD if it is not spent by then.

I am looking at getting divorced after a long and abusive marriage and don't wish for my H to get any of this money (he has more in savings which he has hidden, according to him).

If I put this money into a trust fund or savings account for my GD now and start divorce proceedings in 6 months time would a court say I was still the owner of this money and pay him half, which H has said he will do? It is at the moment in my bank account so easily traceable.

I may at some point after the divorce need this money to help house myself so in a way I am trying to keep it out of his hands. My GD is severely disabled in case this is relevant.

What are the rules for trust funds?

OP posts:
Rockchick1984 · 01/09/2014 14:27

You may be better posting in legal matters Smile

CogitoErgoSometimes · 01/09/2014 15:06

I've been responding to your thread on Relationships and this is another of those questions that you could add to your list & cover off in a 60 minute consultation with a lawyer. Some firms will offer a free initial consultation so it's worth looking around.

Antoniabegonia · 01/09/2014 18:49

Great info on legal matters. Not only financial but also the cheapest divorce possible Smile

I have been recommended a firm of solicitors who do reasonable rates and are very understanding.

Still getting my head around everything though!

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