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?
Safeguarding inheritance when claiming universal credit
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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
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