giving family member money

A question about : giving family member money

hi,

i am going travelling and gave my dad most of my money and he will be giving me an allowance ever so often.

it is a sizeable amount so i was wondering if i should get him to sign a disclaimer to say the money is mine, would be ok should anything happen?!

or what should it include.

is this also morally wrong?

many thanks

Best answers:

• Is your Dad claiming any means tested benefits?
• no he is not
• Why don't you trust your dad?
• You can set up a "bare trust", and have your Dad as trustee. However, I'm a little confused - why can't you just keep the money in your own name?
• As above, why not leave the money in your bank and take a debit card with you? Can't you open another account and get a monthly direct debit set up to deposit funds into your travelling account