Asked by the Customer on 14-10-2014 16:28:30
Question posted in the General Law category relating to North West
Question posted in the General Law category relating to North West
Good Afternnon
My wife and i have recently been forced to foster a family members three children. All three children are of school going age and the financial burden is more than we can cope with.
We have received many offers of financial assistance from friends and community members and i have unsuccessfully attempted to open a seperate bank account for the three children but have been told that this is not permitted. I was thinking of establishing a trust which could then hold a bank account but i have been advised that this is also not feasible. I have been advised to arrange for a fund raising number from the welfare department in order to protect myself and i will heed this advice but i need to know what sort of entity could be used to bank and manage the funds? I was under the impression that a trust was the way to go?
Regards
Andrew
My wife and i have recently been forced to foster a family members three children. All three children are of school going age and the financial burden is more than we can cope with.
We have received many offers of financial assistance from friends and community members and i have unsuccessfully attempted to open a seperate bank account for the three children but have been told that this is not permitted. I was thinking of establishing a trust which could then hold a bank account but i have been advised that this is also not feasible. I have been advised to arrange for a fund raising number from the welfare department in order to protect myself and i will heed this advice but i need to know what sort of entity could be used to bank and manage the funds? I was under the impression that a trust was the way to go?
Regards
Andrew
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