Showing results for tags 'stipulations'.
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My daughter has recently been left a large sum of money and we have been advised that the will stipulates the funds are paid to and held by my wife. The funds are to be used to help our daughter purchase a property for herself and her children. Whilst the idea is very well intentioned our daughter would like to use some of the funds to help out with immediate needs for herself and family. How legally restrained is my wife in releasing funds ?. (we have not seen the will itself and have only received a letter from the executing solicitor saying how much money , how it is supposed to be used and a request for suitable banking details for them to transfer the funds). There is also a concern as to whether such a large sum appearing in our bank will be seen as income and the tax man get involved. ( will banks create a trust fund account ?)
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