trust funds

I_know_my_ABC_and_my_CMYK

Firstly I apologise if this offends anyone at all.

I'm about to come into some money but we need to move house as ours is now too small.

At present I am on ESA income related (IS) and DLA

I've read on here about inheritance money being put into trust funds for this purpose.

Would anyone be able to tell me how I go about doing this, please, as I have no idea where to start.

Thank you

Oldernotwiser

Are you using your inheritance to buy a larger house?

Voyager2002

Your starting point would be to see a solicitor, but I don't know why you think you need a trust fund. Quite simply: you receive the money; you spend it buying a suitable house; you move; end of story.

I_know_my_ABC_and_my_CMYK

Oldernotwiser wrote: »

Are you using your inheritance to buy a larger house?

Yes we would be, we have 2 bedrooms at present , we really need 3.

My son has just got married and they want to start a family. We have decided it would work out better if we all live together as my son is also my carer. Plus there is no way they can get onto the housing market.

Darlyd

I_know_my_ABC_and_my_CMYK wrote: »

Yes we would be, we have 2 bedrooms at present , we really need 3.

My son has just got married and they want to start a family. We have decided it would work out better if we all live together as my son is also my carer. Plus there is no way they can get onto the housing market.

What about buying 2 homes next door to each other? So then your son can live independent with his family, but still care for you?

I_know_my_ABC_and_my_CMYK

darlyd wrote: »

What about buying 2 homes next door to each other? So then your son can live independent with his family, but still care for you?

Brilliant idea but there isn't enough money for that.

My DIL is Thai so they are used to living with one of the parents and we get on really well together, so that's not going to be a problem. At present to give them space I go to bed early, around 7 pm.

rogerblack

I_know_my_ABC_and_my_CMYK wrote: »

Firstly I apologise if this offends anyone at all.

I'm about to come into some money but we need to move house as ours is now too small.

At present I am on ESA income related (IS) and DLA

I've read on here about inheritance money being put into trust funds for this purpose.

Would anyone be able to tell me how I go about doing this, please, as I have no idea where to start.

Thank you

You can essentially never, ever do this.
Someone else has to do it for you.
If that someone else is the person giving you the money, and they give you no option but to accept the money in the form of a trust, where you have no access at all to the capital, then it may be allowable.
Otherwise, you will be treated as if you still have the money.

If this is from a will, then unless the will specifically says the money must be in trust, in a form which you can't touch, then it may be OK. Otherwise, you can't.
http://www.dwp.gov.uk/docs/dmgch52.pdf for all the gory details.

If it's from a personal injury payout, things may be different.