• Welcome to the LegalBeagles Consumer and Legal Forum.
    Please Register to get the most out of the forum. Registration is free and only needs a username and email address.
    REGISTER
    Please do not post your full name, reference numbers or any identifiable details on the forum.

Safeguarding inheritance when claiming universal credit

Collapse
Loading...
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Safeguarding inheritance when claiming universal credit

    If we set up a trust, possibly a discretionary trust to allow our son to inherit land/money when we die, would that affect our universal credit with regard to maximum capital limit, or would land or money in a trust be ignored and not affect our existing claim, as it technically does not belong to us anymore, as it is part of a trust to pay out/go to our son the beneficiary on our death, death being the condition which triggers the new ownership?
    Tags: None

  • #2
    Please read the article "Does holding money in a trust protect that money from counting towards means tested benefits?" at www.anthonygold.co.uk
    I suspect UC will want to know where the money put into trust came from.
    Your son if he is receiving UC may benefit from a discretionary trust, and carry on receiving UC
    If you decide to go down this route you should obtain specialist legal advice. The last paragraph in the article states the reason why

    Comment

    View our Terms and Conditions

    LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.

    If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.


    If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.
    Working...
    X