Is my daughters savings account safe?

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kim132

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Post by kim132 » Sat Mar 13, 2021 6:28 am
My daughters (1 1/2 years) savings account is linked to my account. Are the Insolvency practitioner entitled to any of her money?
Thanks

kallis3

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Post by kallis3 » Sat Mar 13, 2021 9:42 am
If the account is in her name it should be ok - if not think about opening a new one for her.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
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Foggy

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Post by Foggy » Sat Mar 13, 2021 11:09 am
As Kallis says, if the account is in her name, even though you are the trustee, the money is hers and cannot be touched. However, if she is a millionaire, there might be questions !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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