One of my children's friends was left an apparently useful sum of money and this has supposedly been held in trust until the beneficiary turned 25.
That birthday has come and gone a few weeks ago. The trustee says the cheque is in the mail, but hasn't arrived...
I have no experience in these issues, so said I would put the question on here to see if anyone can help with any suggestions. Unfortunately the beneficiary is not very literate and so we now find out that he has not been receiving any statements and no-one in his family seems to have any idea how much should be there.
I understand he has been denied Centrelink payments on the rare occasions he has been out of work due to interest on this amount, so it must be showing up somewhere for Centrelink.
Does anyone know if he has the right to at least request a statement - or statements for the last eight years it has been in trust?
And does he have any recourse if the trustee has gambled the money away as worst case scenario?
Where would he go for help or to report a breach of trust? Any ideas on which government department might help?
Any suggestions would be much appreciated and won't be taken as advice...