Active discussions

Meet the Other Phone. Flexible and made to last.

Meet the Other Phone.
Flexible and made to last.

Buy now

Please or to access all these features

Talk
Money matters

Find financial and money-saving discussions including debt and pension chat on our Money forum. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here.

Original poster

H wants to cash in ISA, but I am receiving legal aid. Would it affect it?

57 replies

messyoldmess · 11/10/2006 15:55

I am in the process of seperating from my husband & have been told that I qualify for legal aid.
We have around £13,000 in an ISA, which H is now very keen to cash in, but I am unsure as to whether having my half of this money will go against me re the legal aid that I have been told I am entitled to.
I have made an appt to see my solicitor, but the soonest they can fit me in is the 30th of this month.
My solicitor knows that there is money in an ISA, but we have only recently found out how much.
Should I try & stop H cashing it in yet?
They asked a lot about savings when I filled out the form & I am not sure whether cashing this ISA in is a good idea right at this moment in time.

OP posts:
beckybraAAARGHstraps · 11/10/2006 18:15

Would cashing it in make any difference? The money is yours. Surely it counts as savings even if it's in an ISA?

LIZS · 11/10/2006 18:17

but if he takes his "half" and fritters it away then it is out of the assets and the balance could get split 50/50 so she'd only see 1/4 of the original amount.

beckybraAAARGHstraps · 11/10/2006 18:22

Ah! I thought it was about savings and legal aid. Ignore me...

Original poster
messyoldmess · 11/10/2006 18:43

I had not thought of that, LIZS!
He did used to have a PEP in his name only, but when I moved in with him he was advised by my mum (who was a manager of an estate agents at the time) to get an ISA & get my name added. I remember him moaning about it costing him over £100 to add my name.
I will dig out the statements later, I think they are still in the pile of bits we had to take to mediation.

OP posts:
Blu · 11/10/2006 22:34

I didn't think ISAs could go down - I thought the whole point was that they offered a guaranteed interest....

GhoulsToo · 11/10/2006 22:35

depends what type of ISA - we've got one that's lost value.

firsttimemama · 11/10/2006 23:00

I second what theblonde says, ISA's cannot be joint - if the statements come to you messy the ISA may be in your name only but it can be funded by him. It sounds like a stocks and shares ISA if he is concerned that it might go down - I think he may be more concerned that it's held in your name and he can't touch it!

SherlockLGJ · 11/10/2006 23:02

THIS IS NOT TAMBA

I have has a couple of emails, asking and it is not Tamba or any one associated with her.

SherlockLGJ · 11/10/2006 23:02

have had.

Blu · 11/10/2006 23:05

No, it is not Tamba.

FFS.

MessyOldmess - don't worry. MNMadness!

SherlockLGJ · 11/10/2006 23:06

Blu

I thought it best to make it clear.

Blu · 11/10/2006 23:12

Well, yes if there is speculation.

But I find the speculation based on the OP to be a bit...trigger happy!

SherlockLGJ · 11/10/2006 23:13

My mistake then......

Blu · 11/10/2006 23:14

no, not you, LGJ - the e mailers! You do know that this is not T - and , I guess, who it is!

Original poster
messyoldmess · 11/10/2006 23:14

No I am NOT Tamba!!!

OP posts:
SherlockLGJ · 11/10/2006 23:15

I know you are not.

But I have been asked, I thought I was helping.

I'll get me coat...

Blu · 11/10/2006 23:20

It's quite funny actually!

Don't take it personally, MessyOldmess!

Blu · 11/10/2006 23:21

OK - c'mon, admit it - who thought this was Tamba?

Imaginations in overdrive!

Original poster
messyoldmess · 12/10/2006 07:26

Don't worry, LGJ, you were only making it clear to others that I was not her & I guess people may speculate based on the fact that I am in the middle of a seperation process, have two children (who also both happen to be boys!), & that you seem to "know" me!
Let me assure everyone that that is all that connects us though!
I am a good 10 years older than Tamba, my boys are older, I am still struggling every day with the hell of this horrible process we are going through & am not seeking any other male attention!
Hope that has cleared any speculation!!

OP posts:
Original poster
messyoldmess · 12/10/2006 08:02

I know you were only trying to clear things up, LGJ! Thank you.

OP posts:
GhoulsToo · 12/10/2006 17:59

our ISA (or should I say dh's) is a cash ISA that's why it lost money!

Original poster
messyoldmess · 12/10/2006 18:49

Oh what a headache!!
I have checked the statement & my name is definitely on the ISA. We both get sent two identical statements with the same info on.
I asked my mum today & she said that the ISA was in both names.
I will not allow him to do anything until I have seen my solicitor.

OP posts:
Original poster
messyoldmess · 12/10/2006 19:09

Ours is a home plan ISA.

OP posts:
HowwwlidaymumsMurderWeekend · 12/10/2006 19:13

I had a "joint" one with my ex, you each use up your tax allowance and we each paid half of the investment but it was held as a joint fund. When we cashed it it was very definately split into 2 halves though so I think they are not properly joint! Suspect he could cash his half anyway. My ex did. I kept mine going and got more dosh than him

tribpot · 12/10/2006 19:13

How weird - I'm convinced you can't have an ISA in joint names, what can this be I wonder.

Since he does need your consent, you're absolutely right to do nothing until you've talked to your solicitor.

Swipe left for the next trending thread