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11 Posts

Posted - 01 August 2018 :  13:52:54  Show Profile  Reply with Quote
Hi again everyone, just a quick question on how fees work etc, Iíve been reading a lot on here and what I want to know is one your 4 years trust deed is complete and you are discharged how long after this can a trustee take a percentage of any winnings/ inheritance from you for or is this for the rest of your life?

Kevin Mapstone
Trust Deed Expert

3715 Posts

Posted - 01 August 2018 :  15:32:42  Show Profile  Reply with Quote
Good Afternoon Gawa

Once you are discharged, any assets which you subsequently acquire - like a lottery win - would be yours alone and the Trustee would hold no interest. If the asset existed prior to that date - such as the right to claim PPI - then the Trustee would be entitled to continue to pursue realisation of the asset.

I hope this is of assistance.

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Captain Sensible
Frequent Contributor

29 Posts

Posted - 01 August 2018 :  15:33:27  Show Profile  Reply with Quote
Hi Gawa

Things like winnings, or an inheritance, that didn't belong to you when you signed your trust deed, are called "acquirenda". The period that any acquirenda will be taken into account by your Trustee is 4 years. So anything you inherit or win after 4 years is not taken into account. However, it's important to realise that the date you "acquire" something isn't necessarily when you physically receive the money. For example, the right to make a claim against mis-sold PPI is technically an asset at the time you sign the trust deed, even if the actual award of funds isn't made until a few years later.
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11 Posts

Posted - 01 August 2018 :  17:33:24  Show Profile  Reply with Quote
Thanks for the info folks much appreciated
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