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  • FIRST POST
    • KenAdams2015
    • By KenAdams2015 8th Jul 17, 12:31 PM
    • 44Posts
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    KenAdams2015
    Children's savings accounts with UC
    • #1
    • 8th Jul 17, 12:31 PM
    Children's savings accounts with UC 8th Jul 17 at 12:31 PM
    Hi

    My children have the following accounts, please can you confirm if these need to be declared to UC and if they will be included in the 16K savings limit

    A govt child's trust fund in her name that only she can access when she's 18 (but no other accounts)
    Other children have a child's ISA (no other accounts or trust funds) in their name that I can pay birthday money into, only they can withdraw and not before they are 18

    Any help greatly appreciated
Page 1
    • pmlindyloo
    • By pmlindyloo 8th Jul 17, 1:12 PM
    • 10,521 Posts
    • 12,434 Thanks
    pmlindyloo
    • #2
    • 8th Jul 17, 1:12 PM
    • #2
    • 8th Jul 17, 1:12 PM
    Hi

    My children have the following accounts, please can you confirm if these need to be declared to UC and if they will be included in the 16K savings limit

    A govt child's trust fund in her name that only she can access when she's 18 (but no other accounts)
    Other children have a child's ISA (no other accounts or trust funds) in their name that I can pay birthday money into, only they can withdraw and not before they are 18

    Any help greatly appreciated
    Originally posted by KenAdams2015
    If you cannot withdraw money from them and the money is locked in until they are 18 then they will not be included in the savings limit.
    Personally I would declare these to UC giving the exact details of the accounts so they can check the terms and conditions.
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