Question re means-tested benefits. Help please!

GlynD

HappyMJ wrote: »

It is...but before the need to claim benefits arises.

Why don't you let the girl take advice on it instead of challenging me on the matter?

mynameistallulah

GlynD wrote: »

Why don't you let the girl take advice on it instead of challenging me on the matter?

Pot Kettle Black?

As you do not even know the correct name of the DWP, I would certainly recommending any double checking "advice" given by yourself. You have also missed the fact that the law prevails, which may or may not be the same as common sense.

I would also suggest that, as the OP has teenage children, she is no longer "the girl".

Anubis_2

I *think* child savings are taken into account for CT/HB and a couple of other means tested benefits. I believe the savings cap is £3k for a child before it affects anything.

It might be too late to do anything here, and realistically if you are going to have to use the money then you can rest in the knowledge that it is being used for the welfare of your children.

mynameistallulah

Anubis wrote: »

I *think* child savings are taken into account for CT/HB and a couple of other means tested benefits. I believe the savings cap is £3k for a child before it affects anything.

It might be too late to do anything here, and realistically if you are going to have to use the money then you can rest in the knowledge that it is being used for the welfare of your children.

Children's capital is no longer counted - explained in this document, para. 57.

I wholly agree with your second point - the money was intended for the welfare of the children, and providing a decent standard of living is surely synonymous with that.

Anubis_2

mynameistallulah wrote: »

Children's capital is no longer counted - explained in this document, para. 57.

I wholly agree with your second point - the money was intended for the welfare of the children, and providing a decent standard of living is surely synonymous with that.

Does para 57 include HB and CT?

mynameistallulah

Anubis wrote: »

Does para 57 include HB and CT?

It does, yes. The capital rules are largely the same for all means tested benefits.

daimonde

theres a lot of overlap with means tested benefits.

HB / CTB is covered by;

Treatment of capital owned by child/young person

Do not include a child’s or young person’s capital with the claimant’s when calculating the amount of capital to take into account.

HB Reg 25; CTB Reg 15

cattie

If this money is sitting in a bank or savings account somewhere in OP's name, then it's going to be flagged up by DWP and tax office data matching anyway, so not possible to just pretend it doesn't exist. Lying about having the money will lead to an interview under caution and prosecution.

If grandpa was of sound mind when he donated the money, why didn't he just open accounts in the children's names? It's what most grandparents and parents do when they want to provide for their children's financial future.

xylophone

Is the money in the OP's own name or in the name of OP re X child and Y child? If the latter, then the money is beneficially that of the children and the OP is holding it as bare trustee - incidentally, legally this would give them the right to capital and income at the age of 18, not 21.

However, if the money is in an account in the sole name of the OP and she has no documentary evidence of the gift from the grandfather to the children, then it seems to me that the money is likely to be regarded as hers?

kanith3

Many thanks to all who replied. I have the money in the childrens names but to my knowledge childrens saving are taken into account for benefit purposes. Does anyone know if this is still true?