Discretionary fund

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jackandjodie95
jackandjodie95 Online Community Member Posts: 9 Listener
edited October 2021 in Benefits and income
Hi. At last I have found out re Discretionary Funds. NS and I do them without a problem. Called Informal/ Formal Trust Fund depending if you want a solicitor or you executors to run it. I have searched for ages - The banks are not interested.So happy to share this info.

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  • Sam_Alumni
    Sam_Alumni Scope alumni Posts: 7,602 Championing
    Do you want to share a bit more @jackandjodie95 ?
  • wilko
    wilko Online Community Member Posts: 2,438 Championing
    Glad you got the support you so needed and can sort thing out, but please inlighten us all on the ins and outs of how to do it please I am sure many more would or are interested to know. 
  • jackandjodie95
    jackandjodie95 Online Community Member Posts: 9 Listener
    Call  NSand I  in Glasgow 08085 007 007 for.,or download  form SB 26T (2016/02). called Application to Invest in an Investment Account for Trustees. So the Trustees  and Beneficiary details are  to be filled in, and the Settlor -that's you if you are leaving money to disabled person, fills in details-like opening a Bank account-and a min. cheque of £20 is required. At the back is a Statutory Declaration form to be signed by the Trustees before a solicitor. Mine charges £7 as it is 1 Document and 2 signatures..My Solicitor is just adding the Trust account number in my Will as my Daughter and Granddaughter will be Trustees.Online details are www.nsani.com           Regards. Judith.

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