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Trust Fund

Trust Fund

Postby naomiturner » Mon Feb 06, 2017 8:45 pm

My grandfather died when I was around 11 years old. He left me and my three brothers £20k each in his will in a trust until we reach the age of 21. Since my eldest brother was 21 at the time he got his straight away. My middle brother and I had our share in a trust which was invested in stocks and shares. My middle brother got his share a few years later but mine had 10 years worth of investment where some of the shares did extremely well. when I reached 21, I got around £21k and I cannot help but think that there had to have been more growth than that over those years.

Trouble is that I cannot find any of the original paper work and at 11 years old I wouldn't have understood any of it anyway....

I've left it a bit late as I'm now 35 but I've recently began to understand investments more and how they work, what should happen etc as I'm thinking about my childs future.

I was considering looking into what the funds were and how they grew, basically to find out whether or not I should have got more. The issue is whether I could actually do anything about it if I did find any irregularities? I don't want to go hunting and be able to do nothing about it If I find anything wrong - I'd rather know what options I have at the outset without wasting too much time on nothing!!

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Re: Trust Fund

Postby Hairyloon » Mon Feb 06, 2017 8:57 pm

Most likely you'll be up against the Limitation Act, but there are exceptions to the rule.
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Re: Trust Fund

Postby dls » Tue Feb 07, 2017 11:39 am

Probabky now far too late.
There is protection so that limitation would not have begun to run against you until you were 18, but what you describe suggests a much longer delay after that.

If you had any reason to suggest that there was positive misbehaviour and evidenece which had only recently come to light, then it might be slightly different.

You will know that such funds should in general accrue greater growth, but also that the big thing is as to the choice of the time at whih the fund is liquidated.
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Re: Trust Fund

Postby naomiturner » Tue Feb 07, 2017 6:59 pm

Thanks for your replies guys,

I did wonder whether there were any limitations and sound like this may well be the case.

An interesting point is of misbehavior and evidence which had only recently come to light. I wouldn't know this unless I looked in to it I suppose.... I would be surprised if having invested these funds over this amount of years, there wasn't some kind of growth and given I got back what was originally invested does sound suspicious (negligence or foul play who knows). As for evidence; well, there you have it :?

I guess it wouldn't hurt to do a bit of investigation... I gather you can get a copy of the will from the probate service, so I could find out the original contents but is this likely to contain details of the trust? Is this is separate document or is it contained within the will?

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Re: Trust Fund

Postby atticus » Tue Feb 07, 2017 7:07 pm

It could well be detailed in the Will.
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Re: Trust Fund

Postby dls » Tue Feb 07, 2017 8:59 pm

You would have to show something over and above negligence to disapply limitation.
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