mccw Posted March 20, 2012 Share Posted March 20, 2012 Any help / advice please from you knowledgable fellows. My in law has a London property in trust for his daughters but relies on the income for all his living expenses. Since he recruited full time care the amounts received had to be looked in to as not enough. It looks like these people had been ripping him off for years. £30,000 to 40,000 in fees and admin charges per year on an income of 130,000. Is this not absurdly high? When asked to explain themselves and provide detailed accounts they wanted only a face to face meeting but now it's been months of delays and no paperwork provided. Now this month they have said they will not be able to pay him anything for the next several months! No specific time or reason provided other than unspecified fees due. He has lost any paper work from the original agreement , if there even was any; who set this up 30+ years ago was meant to be his good friend / business associate. The trust is based in Mauritius. They change address this year 3 times already. What can be done? He needs this money to survive. Could they rob not just the money income but the house completely? There is one trustee who agrees this is not right- the other is who set it up and his wife is the "protector". Does this mean it is effectively mean its stuck with the 2 cheaters and nothing can be done? We tried the police- seems to me it's fraud or theft - but they say can't do anything. Thank you. Link to comment Share on other sites More sharing options...
GuestHouse Posted March 20, 2012 Share Posted March 20, 2012 He needs to appoint a UK based lawyer, but he should also be aware that if he has placed the property in Trust for his daughter, he ought not to actually be receiving an income from the property - use of, perhaps, income from..... I think not. Link to comment Share on other sites More sharing options...
Swiss1960 Posted March 20, 2012 Share Posted March 20, 2012 While I think it has not much to do with Thailand, I would also question how and why your in law is allowed to use the proceeds from a trust which is in the name of his daughters for his living... except we did not receive all information like he is living together with his daughters... But really the only thing to do is take a lawyer and proceed to court immediately. Link to comment Share on other sites More sharing options...
FritsSikkink Posted March 20, 2012 Share Posted March 20, 2012 Go to a lawyer they can help you a lot better then a thailand business forum Link to comment Share on other sites More sharing options...
mccw Posted March 20, 2012 Author Share Posted March 20, 2012 To do with Thailand maybe because many people here may of thought about similar financial trickery to protect assets in home countries and not of thought through all consequences or certain possibilities like this they assured could never happen but can; so let this be as much a public service announcement as anything. There are lawyers involved but no harm putting this out in in the Thai visa ether. Maybe one of you worked in a firm that came across or deals with these things in the past? Average lawyers and specialists are all very different. Any recommendations to be explored would be much appropriated. The house is and some art is in trust do capital can pass with out inheritance tax obviously. But income was meant to pass to him. He pays tax on the income. Nothing illegal. Cheers Link to comment Share on other sites More sharing options...
onthedarkside Posted March 20, 2012 Share Posted March 20, 2012 This is not Thailand related. //closed Link to comment Share on other sites More sharing options...
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