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I also think it's marvelous that they've engaged solicitors to handle his affairs. It is good that there is an impartial party whose primary professional intere
by jamesaguilar 13y ago
I also think it's marvelous that they've engaged solicitors to handle his affairs. It is good that there is an impartial party whose primary professional interest is in the wellbeing of their son. So many parents lose their way in situations like this by confusing their goals with their children's goals, and having a third party in the children's corner is a great way to control for that.
- Daniel_Newby 13y agoIt is also mercenary: establishing a trust fund in the child's name shields the money from liability claims against the parents.
- rrreese 13y agoCould you expand on this please, especially detailing the liability that the child is likely to face under UK laws?
- Daniel_Newby 13y agoIf the money is placed in an account jointly owned by the parents, a successful legal claim against the parents can be forcibly taken from the account. For example, a slip-and-fall lawsuit involving the front porch of the family home. When a lot of money is involved, the steps can become surprisingly slippery.